Avantax Planning Partners Inc. Has $4.68 Million Stock Holdings in Deere & Company (NYSE:DE)

Avantax Planning Partners Inc. reduced its stake in Deere & Company (NYSE:DEGet Rating) by 1.3% during the 1st quarter, HoldingsChannel reports. The fund owned 11,264 shares of the industrial products company’s stock after selling 147 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Deere & Company were worth $4,680,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Whittier Trust Co. grew its stake in Deere & Company by 1.1% in the 1st quarter. Whittier Trust Co. now owns 24,755 shares of the industrial products company’s stock valued at $10,285,000 after buying an additional 270 shares during the last quarter. Douglas Lane & Associates LLC boosted its holdings in Deere & Company by 40.5% in the 1st quarter. Douglas Lane & Associates LLC now owns 832 shares of the industrial products company’s stock valued at $345,000 after purchasing an additional 240 shares during the period. Lake Street Financial LLC lifted its holdings in shares of Deere & Company by 360.3% during the 1st quarter. Lake Street Financial LLC now owns 5,505 shares of the industrial products company’s stock worth $2,287,000 after acquiring an additional 4,309 shares during the period. Cooper Financial Group bought a new position in Deere & Company in the 1st quarter valued at approximately $229,000. Finally, Mascoma Wealth Management LLC lifted its stake in Deere & Company by 53.6% in the 1st quarter. Mascoma Wealth Management LLC now owns 573 shares of the industrial products company’s stock valued at $238,000 after purchasing an additional 200 shares during the last quarter. 67.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $370.00 to $325.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 12th. Bank of America downgraded shares of Deere & Company from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $475.00 to $450.00 in a research note on Monday, April 25th. Citigroup raised shares of Deere & Company from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $435.00 to $340.00 in a research note on Thursday, July 7th. DA Davidson reduced their price objective on shares of Deere & Company from $480.00 to $445.00 and set a “buy” rating for the company in a research note on Monday, May 23rd. Finally, Jefferies Financial Group dropped their target price on shares of Deere & Company from $450.00 to $400.00 in a research report on Friday, July 15th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $399.56.

Deere & Company Price Performance

Shares of NYSE DE traded up $0.93 during midday trading on Friday, reaching $343.31. 917,138 shares of the stock traded hands, compared to its average volume of 1,258,217. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.07 and a quick ratio of 1.76. The stock has a market capitalization of $104.93 billion, a PE ratio of 17.91, a P/E/G ratio of 1.17 and a beta of 1.10. Deere & Company has a one year low of $283.81 and a one year high of $446.76. The company’s 50 day moving average is $323.02 and its 200 day moving average is $364.75.

Deere & Company (NYSE:DEGet Rating) last issued its quarterly earnings results on Friday, May 20th. The industrial products company reported $6.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.65 by $0.16. The company had revenue of $12.03 billion during the quarter, compared to the consensus estimate of $13.16 billion. Deere & Company had a return on equity of 33.58% and a net margin of 12.99%. Deere & Company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $5.68 earnings per share. On average, equities research analysts anticipate that Deere & Company will post 23.3 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Thursday, June 30th will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 1.32%. This is an increase from Deere & Company’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Wednesday, June 29th. Deere & Company’s dividend payout ratio (DPR) is 23.58%.

Insider Transactions at Deere & Company

In other news, insider John H. Stone sold 17,145 shares of Deere & Company stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $4,321.07, for a total transaction of $74,084,745.15. Following the completion of the sale, the insider now directly owns 21,087 shares in the company, valued at $91,118,403.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

About Deere & Company

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Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

See Also

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DEGet Rating).

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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