Deere & Company (NYSE:DE) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. decreased its stake in shares of Deere & Company (NYSE:DE) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,342 shares of the industrial products company’s stock after selling 373 shares during the period. Wedbush Securities Inc.’s holdings in Deere & Company were worth $3,864,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. True Wealth Design LLC boosted its position in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the period. Pineridge Advisors LLC grew its stake in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in Deere & Company in the fourth quarter valued at about $29,000. Livelsberger Financial Advisory bought a new position in Deere & Company during the 4th quarter worth approximately $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of a number of research reports. TD Cowen lifted their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Raymond James assumed coverage on Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. Daiwa Capital Markets boosted their price objective on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Morgan Stanley dropped their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $414.11.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $384.85 on Monday. The company has a 50-day moving average of $369.04 and a two-hundred day moving average of $380.68. The stock has a market cap of $105.29 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.27 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a one year low of $340.20 and a one year high of $417.46.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 EPS. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

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.