Deere & Company (NYSE:DE) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its stake in shares of Deere & Company (NYSE:DE) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,317 shares of the industrial products company’s stock after selling 587 shares during the quarter. Ritholtz Wealth Management’s holdings in Deere & Company were worth $2,126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. RB Capital Management LLC lifted its stake in shares of Deere & Company by 5.2% during the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after buying an additional 81 shares during the period. Bornite Capital Management LP purchased a new position in shares of Deere & Company during the first quarter valued at approximately $14,541,000. Retirement Income Solutions Inc purchased a new position in shares of Deere & Company during the first quarter valued at approximately $229,000. Sequoia Financial Advisors LLC lifted its stake in shares of Deere & Company by 27.1% during the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after buying an additional 521 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in shares of Deere & Company by 32.4% during the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after buying an additional 27,985 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.4 %

DE stock traded up $1.60 during mid-day trading on Thursday, hitting $410.74. 1,421,557 shares of the company were exchanged, compared to its average volume of 1,531,840. The company has a market capitalization of $114.33 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The firm has a fifty day simple moving average of $380.44 and a 200 day simple moving average of $381.52.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the business earned $6.55 EPS. On average, research analysts forecast that Deere & Company will post 27.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.43%. Deere & Company’s payout ratio is currently 17.12%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Wells Fargo & Company cut their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Morgan Stanley started coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 price target on the stock. Stifel Nicolaus cut their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Citigroup cut their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $431.69.

Deere & 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.