Deere & Company (NYSE:DE) Shares Bought by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC grew its position in Deere & Company (NYSE:DE) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,126 shares of the industrial products company’s stock after purchasing an additional 185 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Deere & Company were worth $850,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Morgan Stanley grew its stake in shares of Deere & Company by 1.3% in the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after buying an additional 65,006 shares in the last quarter. FMR LLC lifted its position in shares of Deere & Company by 6.6% during the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after purchasing an additional 269,571 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Deere & Company by 2.5% in the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after purchasing an additional 73,601 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Deere & Company by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock worth $628,105,000 after buying an additional 31,074 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Deere & Company by 11.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,480,725 shares of the industrial products company’s stock worth $592,098,000 after buying an additional 149,980 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.1 %

NYSE:DE traded down $0.25 during trading hours on Wednesday, hitting $405.32. 640,327 shares of the stock traded hands, compared to its average volume of 1,451,911. The firm has a market cap of $112.82 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.51 and a beta of 1.04. The firm has a 50 day moving average price of $393.13 and a 200 day moving average price of $384.23. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.55 EPS. Equities research analysts anticipate that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DE shares. Citigroup lowered their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Wells Fargo & Company cut their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, 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. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company 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.