BlackDiamond Wealth Management LLC Sells 328 Shares of Deere & Company (NYSE:DE)

BlackDiamond Wealth Management LLC reduced its position in Deere & Company (NYSE:DE) by 21.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,202 shares of the industrial products company’s stock after selling 328 shares during the period. BlackDiamond Wealth Management LLC’s holdings in Deere & Company were worth $509,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 60.5% in the fourth 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 period. Modus Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at $32,000. YANKCOM Partnership acquired a new stake in Deere & Company during the 4th quarter worth about $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $35,000. Finally, Continuum Advisory LLC lifted its position 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 acquiring an additional 67 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DE shares. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Argus set a $510.00 price target on shares of Deere & Company in a research note on Friday, March 7th. UBS Group upped their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Evercore ISI upped their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, Oppenheimer upped 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. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $460.00.

Deere & Company Price Performance

Shares of NYSE:DE opened at $482.59 on Tuesday. The company has a market cap of $130.98 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The business has a fifty day simple moving average of $467.88 and a 200-day simple moving average of $434.34.

Deere & Company (NYSE:DE) last issued 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%. Equities research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.34%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

About Deere & Company

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.