Thrive Wealth Management LLC Sells 44 Shares of Deere & Company (NYSE:DE)

Thrive Wealth Management LLC decreased its position in Deere & Company (NYSE:DE) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 693 shares of the industrial products company’s stock after selling 44 shares during the quarter. Thrive Wealth Management LLC’s holdings in Deere & Company were worth $325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DE. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the last quarter. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company in the fourth quarter worth $39,000. Finally, Dogwood Wealth Management LLC acquired a new stake in Deere & Company during the fourth quarter worth $42,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DE shares. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Bank of America lifted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Finally, Raymond James boosted their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $515.19.

Deere & Company Stock Performance

Deere & Company stock opened at $510.57 on Friday. The stock has a 50-day simple moving average of $478.37 and a 200 day simple moving average of $465.12. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The stock has a market capitalization of $138.28 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the previous year, the business posted $8.53 earnings per share. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.27%. Deere & Company’s dividend payout ratio is currently 31.35%.

About Deere & Company

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.