Providence Capital Advisors LLC Boosts Stock Position in Deere & Company (NYSE:DE)

Providence Capital Advisors LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,336 shares of the industrial products company’s stock after purchasing an additional 139 shares during the quarter. Providence Capital Advisors LLC’s holdings in Deere & Company were worth $6,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pineridge Advisors LLC grew its holdings in Deere & Company by 60.5% during the 4th 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 last quarter. Modus Advisors LLC purchased a new stake in Deere & Company during the 4th quarter valued at about $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company in the fourth quarter worth about $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC purchased a new position in Deere & Company during the fourth quarter valued at $44,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several research analyst reports. Citigroup upped their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Argus set a $510.00 price objective on Deere & Company in a research report on Friday, March 7th. Robert W. Baird reiterated a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. Finally, Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $460.00.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 transaction, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Price Performance

Shares of NYSE DE opened at $479.69 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. 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 company has a fifty day moving average price of $477.11 and a 200 day moving average price of $438.85. The firm has a market cap of $130.19 billion, a PE ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s payout ratio is currently 28.72%.

About Deere & Company

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.