Transform Wealth LLC Reduces Stake in Deere & Company (NYSE:DE)

Transform Wealth LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 60.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,092 shares of the industrial products company’s stock after selling 13,860 shares during the period. Transform Wealth LLC’s holdings in Deere & Company were worth $3,748,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Dohj LLC raised its position in shares of Deere & Company by 6.8% in the first quarter. Dohj LLC now owns 4,156 shares of the industrial products company’s stock valued at $1,707,000 after purchasing an additional 264 shares during the period. Thrive Wealth Management LLC purchased a new position in shares of Deere & Company in the first quarter valued at $218,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Deere & Company by 45.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 77,781 shares of the industrial products company’s stock worth $31,948,000 after purchasing an additional 24,171 shares in the last quarter. Cardinal Capital Management boosted its stake in Deere & Company by 5.7% in the 1st quarter. Cardinal Capital Management now owns 27,112 shares of the industrial products company’s stock worth $11,175,000 after purchasing an additional 1,470 shares during the period. Finally, ERn Financial LLC grew its holdings in Deere & Company by 1.1% during the 1st quarter. ERn Financial LLC now owns 3,725 shares of the industrial products company’s stock valued at $1,530,000 after buying an additional 41 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE stock traded up $0.08 during trading on Friday, reaching $375.40. The stock had a trading volume of 857,643 shares, compared to its average volume of 1,471,334. The firm has a market cap of $103.45 billion, a PE ratio of 11.43, a PEG ratio of 1.51 and a beta of 0.98. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average is $386.34 and its two-hundred day moving average is $387.01. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter in the prior year, the business posted $9.65 earnings per share. The business’s quarterly revenue was down 15.4% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DE shares. Oppenheimer reiterated an “outperform” rating and set a $456.00 price target on shares of Deere & Company in a research report on Thursday, May 16th. Daiwa Capital Markets lifted their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Morgan Stanley increased their target price on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Stifel Nicolaus lifted their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, DA Davidson reduced their price objective 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. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $430.55.

Insider Buying and Selling

In related 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 value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by company insiders.

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.