Thoroughbred Financial Services LLC Has $876,000 Stake in Deere & Company (NYSE:DE)

Thoroughbred Financial Services LLC reduced its holdings in Deere & Company (NYSE:DE) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,068 shares of the industrial products company’s stock after selling 462 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Deere & Company were worth $876,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pineridge Advisors LLC grew its holdings in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter valued at $35,000. Finally, Continuum Advisory LLC boosted its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on DE. Citigroup boosted their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a report on Sunday. Oppenheimer lifted their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Evercore ISI lifted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $460.00.

Deere & Company Stock Down 3.8 %

Shares of DE opened at $430.25 on Friday. The company has a market capitalization of $116.78 billion, a P/E ratio of 19.07, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The business’s 50 day simple moving average is $476.55 and its 200-day simple moving average is $442.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.