Wealthspire Advisors LLC Sells 132 Shares of Deere & Company (NYSE:DE)

Wealthspire Advisors LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,632 shares of the industrial products company’s stock after selling 132 shares during the quarter. Wealthspire Advisors LLC’s holdings in Deere & Company were worth $610,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. Pineridge Advisors LLC raised its holdings in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the period. Livelsberger Financial Advisory bought a new position in Deere & Company in the fourth quarter valued at approximately $30,000. Spartan Planning & Wealth Management acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $33,000. Finally, Core Wealth Advisors Inc. increased its position in shares of Deere & Company by 466.7% during the fourth quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 70 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 0.0 %

DE stock opened at $394.66 on Tuesday. Deere & Company has a one year low of $340.20 and a one year high of $417.46. The stock has a market cap of $108.76 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The company has a fifty day moving average price of $372.50 and a two-hundred day moving average price of $381.84. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the company earned $10.20 earnings per share. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio is presently 17.70%.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on DE. Truist Financial reaffirmed a “buy” rating and issued a $443.00 target price (up from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. JPMorgan Chase & Co. decreased their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Oppenheimer dropped their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $409.88.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.