FSB Premier Wealth Management Inc. Reduces Position in Deere & Company (NYSE:DE)

FSB Premier Wealth Management Inc. trimmed its position in shares of Deere & Company (NYSE:DE) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,005 shares of the industrial products company’s stock after selling 148 shares during the period. Deere & Company comprises 1.7% of FSB Premier Wealth Management Inc.’s portfolio, making the stock its 12th largest position. FSB Premier Wealth Management Inc.’s holdings in Deere & Company were worth $3,738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Norges Bank purchased a new position in shares of Deere & Company in the 4th quarter valued at approximately $1,248,036,000. Parnassus Investments LLC lifted its position in Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares during the period. Swedbank AB bought a new stake in shares of Deere & Company during the 1st quarter valued at $191,628,000. Vanguard Group Inc. grew its position in shares of Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after buying an additional 263,709 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Deere & Company by 3,064.1% in the 1st quarter. SG Americas Securities LLC now owns 175,386 shares of the industrial products company’s stock worth $72,038,000 after buying an additional 169,843 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.0 %

DE opened at $385.63 on Wednesday. The stock has a market capitalization of $106.27 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.28 and a beta of 0.93. The firm has a 50 day moving average price of $368.41 and a 200-day moving average price of $380.10. Deere & Company has a twelve month low of $340.20 and a twelve month high of $423.35. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.20 EPS. Equities research analysts forecast that Deere & Company will post 25.09 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. DA Davidson dropped their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Truist Financial reaffirmed a “buy” rating and set a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. TD Cowen lifted their price objective on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Finally, Daiwa Capital Markets increased their target price on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $414.11.

Deere & Company 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.