Institute for Wealth Management LLC. Sells 40 Shares of Deere & Company (NYSE:DE)

Institute for Wealth Management LLC. decreased its holdings in Deere & Company (NYSE:DE) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,691 shares of the industrial products company’s stock after selling 40 shares during the period. Institute for Wealth Management LLC.’s holdings in Deere & Company were worth $1,876,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its stake in Deere & Company by 104,373.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after purchasing an additional 3,216,801 shares during the last quarter. Norges Bank bought a new stake in Deere & Company in the fourth quarter worth about $1,326,177,000. International Assets Investment Management LLC lifted its stake in Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after purchasing an additional 838,813 shares during the last quarter. Morgan Stanley lifted its stake in Deere & Company by 13.8% in the fourth quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock worth $1,962,085,000 after purchasing an additional 554,133 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Deere & Company by 561.5% in the first quarter. First Trust Advisors LP now owns 531,339 shares of the industrial products company’s stock worth $219,379,000 after purchasing an additional 451,019 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Stifel Nicolaus reduced their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Morgan Stanley began coverage on shares of Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Price Performance

Shares of Deere & Company stock traded up $0.04 during trading hours on Friday, reaching $400.64. The stock had a trading volume of 581,293 shares, compared to its average volume of 1,488,791. The stock’s 50 day moving average is $385.47 and its 200 day moving average is $382.79. The firm has a market capitalization of $111.52 billion, a PE ratio of 11.65, a PEG ratio of 1.49 and a beta of 1.04. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.55 earnings per share. Equities analysts expect that Deere & Company will post 27.39 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.47%. Deere & Company’s dividend payout ratio is presently 17.12%.

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.