Worth Financial Advisory Group LLC Lowers Holdings in Deere & Company (NYSE:DE)

Worth Financial Advisory Group LLC lowered its holdings in shares of Deere & Company (NYSE:DE) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 732 shares of the industrial products company’s stock after selling 139 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Deere & Company were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Everence Capital Management Inc. lifted its stake in Deere & Company by 148.3% in the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Stockbridge Partners LLC lifted its position in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Deere & Company in the fourth quarter worth about $254,000. Toronto Dominion Bank boosted its stake in Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after buying an additional 1,291 shares during the last quarter. Finally, Czech National Bank grew its holdings in Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after buying an additional 2,964 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $483.48 on Thursday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock has a market cap of $131.22 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The firm has a 50-day moving average of $476.30 and a two-hundred day moving average of $438.57. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating 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 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.34%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Evercore ISI lifted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Citigroup upped their target price 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. Robert W. Baird reiterated a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus price target of $460.00.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

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.