Avidian Wealth Solutions LLC Sells 246 Shares of Deere & Company (NYSE:DE)

Avidian Wealth Solutions LLC trimmed its stake in Deere & Company (NYSE:DE) by 12.4% during the 4th quarter, HoldingsChannel reports. The fund owned 1,739 shares of the industrial products company’s stock after selling 246 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Deere & Company were worth $695,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. National Bank of Canada FI lifted its position in Deere & Company by 35.7% during the fourth quarter. National Bank of Canada FI now owns 176,725 shares of the industrial products company’s stock valued at $70,724,000 after purchasing an additional 46,476 shares during the period. Alan B Lancz & Associates Inc. raised its stake in Deere & Company by 29.4% during the 4th quarter. Alan B Lancz & Associates Inc. now owns 1,100 shares of the industrial products company’s stock valued at $440,000 after buying an additional 250 shares during the last quarter. TCG Advisory Services LLC bought a new position in shares of Deere & Company during the 4th quarter valued at $512,000. Royal Fund Management LLC lifted its holdings in shares of Deere & Company by 2.5% during the 4th quarter. Royal Fund Management LLC now owns 3,344 shares of the industrial products company’s stock valued at $1,337,000 after buying an additional 82 shares during the period. Finally, AJOVista LLC purchased a new position in shares of Deere & Company in the 4th quarter worth $166,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE DE traded down $0.21 during trading hours on Monday, reaching $400.75. The company’s stock had a trading volume of 501,681 shares, compared to its average volume of 1,460,564. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $111.55 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.51 and a beta of 1.04. The firm’s 50-day moving average price is $391.45 and its 200-day moving average price is $383.87.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.55 earnings per share. On average, equities research analysts predict that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s payout ratio is 17.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Truist Financial assumed coverage on shares of Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Evercore ISI lifted their price target on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Finally, Wells Fargo & Company reduced their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $433.28.

About Deere & Company

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.