Naviter Wealth LLC Sells 2,046 Shares of Deere & Company (NYSE:DE)

Naviter Wealth LLC cut its holdings in shares of Deere & Company (NYSE:DE) by 78.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 574 shares of the industrial products company’s stock after selling 2,046 shares during the period. Naviter Wealth LLC’s holdings in Deere & Company were worth $244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the last quarter. Modus Advisors LLC bought a new position in Deere & Company in the 4th quarter worth approximately $32,000. YANKCOM Partnership bought a new position in Deere & Company in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter worth $35,000. Finally, Sierra Ocean LLC bought a new position in Deere & Company in the 4th quarter valued at $44,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DE shares. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Evercore ISI upped their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Oppenheimer boosted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. One 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $457.22.

Deere & Company Trading Up 3.5 %

NYSE:DE opened at $499.73 on Monday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The business’s 50-day simple moving average is $461.21 and its 200-day simple moving average is $430.21. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The stock 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 announced 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 net margin of 12.94% and a return on equity of 27.31%. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

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.