Naviter Wealth LLC Decreases Stock Position in Deere & Company (NYSE:DE)

Naviter Wealth LLC lowered its position in shares of Deere & Company (NYSE:DE) by 78.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 574 shares of the industrial products company’s stock after selling 2,046 shares during the period. Naviter Wealth LLC’s holdings in Deere & Company were worth $244,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Robertson Stephens Wealth Management LLC raised its position in Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 22 shares in the last quarter. DLK Investment Management LLC increased its stake in shares of Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after purchasing an additional 24 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Deere & Company by 2.8% during the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after purchasing an additional 24 shares during the last quarter. Finally, Round Rock Advisors LLC lifted its stake in shares of Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 25 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DE. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Truist Financial reaffirmed a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Citigroup lifted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, UBS Group boosted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $457.22.

Deere & Company Stock Up 3.5 %

NYSE DE opened at $499.73 on Monday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The stock has a market cap of $135.63 billion, a PE ratio of 22.15, a PEG ratio of 2.14 and a beta of 1.01. The firm has a 50-day simple moving average of $461.21 and a 200 day simple moving average of $430.21. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.30%. Deere & Company’s dividend payout ratio is currently 28.72%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.