Avestar Capital LLC Sells 1,126 Shares of Deere & Company $DE

Avestar Capital LLC reduced its holdings in Deere & Company (NYSE:DEFree Report) by 31.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,472 shares of the industrial products company’s stock after selling 1,126 shares during the period. Avestar Capital LLC’s holdings in Deere & Company were worth $1,130,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Rothschild & Co Wealth Management UK Ltd grew its stake in Deere & Company by 1.5% in the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,196,643 shares of the industrial products company’s stock valued at $547,177,000 after purchasing an additional 17,785 shares in the last quarter. Synovus Financial Corp boosted its holdings in shares of Deere & Company by 50.8% in the 3rd quarter. Synovus Financial Corp now owns 15,984 shares of the industrial products company’s stock valued at $7,311,000 after buying an additional 5,383 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in shares of Deere & Company by 20.2% in the 3rd quarter. NewEdge Wealth LLC now owns 3,626 shares of the industrial products company’s stock valued at $1,718,000 after buying an additional 609 shares during the last quarter. Fiscal Wisdom Wealth Management LLC bought a new position in shares of Deere & Company in the third quarter valued at $240,000. Finally, CenterBook Partners LP bought a new position in shares of Deere & Company in the third quarter valued at $201,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 9.7%

DE stock opened at $650.94 on Friday. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The stock has a market capitalization of $176.45 billion, a price-to-earnings ratio of 35.17, a PEG ratio of 2.37 and a beta of 1.02. The business’s fifty day moving average price is $519.01 and its two-hundred day moving average price is $490.22.

Deere & Company (NYSE:DEGet Free Report) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. Deere & Company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, December 31st. Deere & Company’s dividend payout ratio is presently 35.01%.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the sale, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,578 shares of company stock worth $32,471,682 over the last ninety days. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Daiwa Securities Group dropped their target price on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a report on Tuesday, December 2nd. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Finally, UBS Group restated a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $524.20.

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Deere & Company News Summary

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About Deere & Company

(Free Report)

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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

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