Deere & Company (NYSE:DE) Shares Sold by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC reduced its stake in Deere & Company (NYSE:DE) by 87.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 163 shares of the industrial products company’s stock after selling 1,088 shares during the period. ICA Group Wealth Management LLC’s holdings in Deere & Company were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in DE. Gilbert & Cook Inc. lifted its stake in Deere & Company by 5.4% during the fourth quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 102 shares during the last quarter. 9258 Wealth Management LLC lifted its stake in Deere & Company by 9.8% during the fourth quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock valued at $790,000 after purchasing an additional 176 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in Deere & Company by 62.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock valued at $551,000 after purchasing an additional 552 shares during the last quarter. Jump Financial LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $380,000. Finally, Great Lakes Advisors LLC lifted its stake in Deere & Company by 92.9% during the fourth quarter. Great Lakes Advisors LLC now owns 5,070 shares of the industrial products company’s stock valued at $2,027,000 after purchasing an additional 2,442 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Raymond James assumed coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target on the stock. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $409.88.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

Deere & Company Price Performance

NYSE DE opened at $394.68 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a market cap of $108.76 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.29 and a beta of 0.92. The company has a fifty day simple moving average of $371.71 and a 200 day simple moving average of $381.63. Deere & Company has a 1 year low of $340.20 and a 1 year high of $417.46.

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

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. Deere & Company’s payout ratio is currently 17.70%.

Deere & 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.