REDW Wealth LLC Sells 450 Shares of Deere & Company (NYSE:DE)

REDW Wealth LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 42.8% during the fourth quarter, HoldingsChannel reports. The fund owned 602 shares of the industrial products company’s stock after selling 450 shares during the quarter. REDW Wealth LLC’s holdings in Deere & Company were worth $255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC increased its holdings in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC bought a new position in shares of Deere & Company during the fourth quarter worth about $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company during the fourth quarter worth about $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the fourth quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $44,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DE shares. Evercore ISI raised their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Citigroup lifted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Oppenheimer lifted their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $457.22.

Deere & Company Stock Performance

Shares of DE stock opened at $499.73 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The firm has a fifty day simple moving average of $461.21 and a two-hundred day simple moving average of $430.21. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The firm has a market capitalization of $135.63 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.30%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

Deere & Company Company Profile

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.