IFP Advisors Inc Has $3.17 Million Stock Position in Deere & Company (NYSE:DE)

IFP Advisors Inc lessened its holdings in Deere & Company (NYSE:DE) by 7.5% during the fourth quarter, HoldingsChannel reports. The fund owned 7,469 shares of the industrial products company’s stock after selling 605 shares during the quarter. IFP Advisors Inc’s holdings in Deere & Company were worth $3,170,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Robertson Stephens Wealth Management LLC grew its holdings in shares of Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 22 shares during the last quarter. DLK Investment Management LLC grew its stake in shares of Deere & Company by 0.3% during the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after buying an additional 24 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after buying an additional 24 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after acquiring an additional 24 shares during the last quarter. Finally, Round Rock Advisors LLC grew its position in Deere & Company by 2.0% during the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on DE shares. Oppenheimer lifted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Evercore ISI upped their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price target on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $454.65.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Deere & Company Stock Down 1.2 %

Shares of Deere & Company stock opened at $484.24 on Tuesday. The company has a 50-day simple moving average of $452.99 and a two-hundred day simple moving average of $422.92. The stock has a market capitalization of $131.88 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

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

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.34%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

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.