EPG Wealth Management LLC Reduces Holdings in Deere & Company (NYSE:DE)

EPG Wealth Management LLC reduced its position in Deere & Company (NYSE:DE) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,834 shares of the industrial products company’s stock after selling 21 shares during the period. EPG Wealth Management LLC’s holdings in Deere & Company were worth $2,048,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DE. Price T Rowe Associates Inc. MD raised its position in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after buying an additional 1,095,736 shares in the last quarter. Capital World Investors raised its position in Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after purchasing an additional 157,224 shares in the last quarter. FMR LLC lifted its stake in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after purchasing an additional 97,203 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Deere & Company during the 4th quarter valued at about $1,244,094,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.1 %

Shares of DE opened at $476.24 on Wednesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company’s fifty day moving average is $464.78 and its 200 day moving average is $449.60. The stock has a market capitalization of $129.26 billion, a PE ratio of 21.11, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last released its quarterly earnings results 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 net margin of 12.94% and a return on equity of 27.31%. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. UBS Group lowered their price target on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Truist Financial reaffirmed a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Citigroup reduced their price objective on Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Evercore ISI boosted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. One equities 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $460.21.

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.