Steele Capital Management Inc. Sells 28 Shares of Deere & Company (NYSE:DE)

Steele Capital Management Inc. reduced its stake in Deere & Company (NYSE:DE) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,817 shares of the industrial products company’s stock after selling 28 shares during the period. Steele Capital Management Inc.’s holdings in Deere & Company were worth $4,047,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. AlphaMark Advisors LLC increased its holdings in Deere & Company by 31.1% in the 1st quarter. AlphaMark Advisors LLC now owns 135 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 32 shares during the last quarter. Silvia Mccoll Wealth Management LLC bought a new stake in Deere & Company in the 1st quarter valued at $238,000. Claro Advisors LLC increased its holdings in shares of Deere & Company by 18.1% in the 1st quarter. Claro Advisors LLC now owns 902 shares of the industrial products company’s stock worth $370,000 after buying an additional 138 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Deere & Company by 21.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,916 shares of the industrial products company’s stock worth $1,609,000 after buying an additional 683 shares during the last quarter. Finally, Kowal Investment Group LLC increased its holdings in shares of Deere & Company by 7.1% in the 1st quarter. Kowal Investment Group LLC now owns 889 shares of the industrial products company’s stock worth $365,000 after buying an additional 59 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on DE shares. TD Cowen upped their price target on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Citigroup began coverage on shares of Deere & Company in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price objective for the company. Raymond James began coverage on shares of Deere & Company in a research report on Friday. They issued an “outperform” rating and a $420.00 price objective for the company. Daiwa Capital Markets boosted their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $430.55.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Deere & Company Stock Down 3.4 %

Shares of NYSE DE traded down $12.86 during trading hours on Monday, hitting $360.77. 1,456,844 shares of the stock were exchanged, compared to its average volume of 1,518,528. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The company has a market cap of $99.42 billion, a PE ratio of 10.87, a PEG ratio of 1.50 and a beta of 0.93. The firm has a fifty day moving average price of $385.32 and a 200-day moving average price of $387.29. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.65 EPS. On average, sell-side analysts expect that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.63%. Deere & Company’s payout ratio is 17.70%.

About Deere & Company

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.