Worth Financial Advisory Group LLC Trims Stake in Deere & Company (NYSE:DE)

Worth Financial Advisory Group LLC lessened its stake in shares of Deere & Company (NYSE:DE - Free Report) by 45.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,117 shares of the industrial products company's stock after selling 923 shares during the period. Worth Financial Advisory Group LLC's holdings in Deere & Company were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Harbour Investments Inc. boosted its holdings in shares of Deere & Company by 1.4% during the 2nd quarter. Harbour Investments Inc. now owns 6,153 shares of the industrial products company's stock valued at $2,299,000 after purchasing an additional 82 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Deere & Company by 10.0% in the 2nd quarter. LS Investment Advisors LLC now owns 1,430 shares of the industrial products company's stock valued at $534,000 after acquiring an additional 130 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of Deere & Company by 1.1% in the 2nd quarter. AustralianSuper Pty Ltd now owns 289,379 shares of the industrial products company's stock valued at $108,121,000 after acquiring an additional 3,150 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Deere & Company by 20.5% in the 2nd quarter. Atomi Financial Group Inc. now owns 1,348 shares of the industrial products company's stock valued at $504,000 after acquiring an additional 229 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Deere & Company by 4.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 66,499 shares of the industrial products company's stock valued at $24,846,000 after acquiring an additional 3,060 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 1.9 %

DE traded down $7.11 during trading on Tuesday, hitting $375.98. The stock had a trading volume of 1,106,985 shares, compared to its average volume of 1,534,807. The company has a market capitalization of $103.61 billion, a PE ratio of 11.32, a PEG ratio of 1.59 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $423.35. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The stock has a 50 day simple moving average of $367.96 and a two-hundred day simple moving average of $379.87.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company's revenue was down 20.3% compared to the same quarter last year. During the same period last year, the firm earned $10.20 earnings per share. On average, research analysts predict that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.56%. Deere & Company's payout ratio is currently 17.70%.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction 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 completion of the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on shares of Deere & Company from $450.00 to $425.00 and set an "overweight" rating for the company in a report on Monday. HSBC lowered shares of Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Oppenheimer reduced their price objective on shares of Deere & Company from $465.00 to $448.00 and set an "outperform" rating on the stock in a research report on Monday, July 22nd. Raymond James initiated coverage on shares of Deere & Company in a research report on Friday, June 28th. They issued an "outperform" rating and a $420.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $402.00 to $389.00 and set a "hold" rating on the stock in a research report on Thursday, August 8th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $414.11.

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.

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