Legacy Financial Advisors Inc. Sells 49 Shares of Deere & Company (NYSE:DE)

Legacy Financial Advisors Inc. decreased its position in Deere & Company (NYSE:DE) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,275 shares of the industrial products company’s stock after selling 49 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Deere & Company were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DE. Pinnacle Associates Ltd. boosted its holdings in Deere & Company by 11.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 4,416 shares of the industrial products company’s stock valued at $1,666,000 after acquiring an additional 438 shares during the period. Stratos Wealth Advisors LLC increased its stake in shares of Deere & Company by 8.6% in the third quarter. Stratos Wealth Advisors LLC now owns 2,247 shares of the industrial products company’s stock worth $848,000 after buying an additional 178 shares during the period. J.W. Cole Advisors Inc. raised its holdings in Deere & Company by 2.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,677 shares of the industrial products company’s stock valued at $1,388,000 after buying an additional 73 shares during the last quarter. Segment Wealth Management LLC boosted its position in Deere & Company by 5.8% during the 3rd quarter. Segment Wealth Management LLC now owns 825 shares of the industrial products company’s stock valued at $311,000 after buying an additional 45 shares during the period. Finally, Miracle Mile Advisors LLC boosted its position in Deere & Company by 3.5% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,006 shares of the industrial products company’s stock valued at $1,512,000 after buying an additional 137 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of several research analyst reports. Citigroup dropped their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Stifel Nicolaus dropped their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Wells Fargo & Company reduced their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Price Performance

DE stock traded up $5.00 during mid-day trading on Friday, reaching $400.96. 1,626,960 shares of the company’s stock were exchanged, compared to its average volume of 1,337,641. The company has a market cap of $111.61 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The stock’s 50 day moving average is $391.45 and its 200 day moving average is $383.91. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $6.55 EPS. On average, research analysts expect that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Dividend Announcement

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