FRG Family Wealth Advisors LLC Lowers Stock Holdings in Deere & Company (NYSE:DE)

FRG Family Wealth Advisors LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,377 shares of the industrial products company’s stock after selling 135 shares during the period. Deere & Company makes up 1.3% of FRG Family Wealth Advisors LLC’s holdings, making the stock its 19th biggest holding. FRG Family Wealth Advisors LLC’s holdings in Deere & Company were worth $6,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Treasurer of the State of North Carolina lifted its stake in shares of Deere & Company by 0.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 113,943 shares of the industrial products company’s stock worth $48,278,000 after purchasing an additional 520 shares during the period. Legacy Financial Advisors Inc. increased its holdings in shares of Deere & Company by 14.5% in the fourth quarter. Legacy Financial Advisors Inc. now owns 1,639 shares of the industrial products company’s stock valued at $694,000 after buying an additional 207 shares in the last quarter. Redwood Park Advisors LLC purchased a new position in Deere & Company during the 4th quarter worth approximately $93,000. Scotia Capital Inc. boosted its holdings in Deere & Company by 10.0% in the fourth quarter. Scotia Capital Inc. now owns 46,886 shares of the industrial products company’s stock worth $19,866,000 after purchasing an additional 4,245 shares in the last quarter. Finally, Waddell & Associates LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $283,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DE. UBS Group lowered their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research note on Monday. Robert W. Baird reissued a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Citigroup decreased their price target on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Evercore ISI increased their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $457.26.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the 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. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

Deere & Company Stock Down 2.1 %

Shares of Deere & Company stock opened at $443.00 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company’s fifty day simple moving average is $471.63 and its two-hundred day simple moving average is $442.69. The company has a market cap of $120.24 billion, a P/E ratio of 19.64, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05.

Deere & Company (NYSE:DE) last released its earnings results 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%. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced 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 1.46%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio is 28.72%.

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.