Pinnacle Financial Partners Inc Reduces Position in Deere & Company $DE

Pinnacle Financial Partners Inc trimmed its holdings in Deere & Company (NYSE:DE) by 45.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,142 shares of the industrial products company’s stock after selling 11,850 shares during the period. Pinnacle Financial Partners Inc’s holdings in Deere & Company were worth $6,467,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 1,278 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in Deere & Company by 1.8% during the 2nd quarter. Pallas Capital Advisors LLC now owns 1,873 shares of the industrial products company’s stock worth $952,000 after acquiring an additional 34 shares during the period. Focus Financial Network Inc. lifted its holdings in Deere & Company by 3.6% during the second quarter. Focus Financial Network Inc. now owns 2,805 shares of the industrial products company’s stock valued at $1,427,000 after purchasing an additional 97 shares in the last quarter. Global Financial Private Client LLC boosted its position in shares of Deere & Company by 7.1% in the second quarter. Global Financial Private Client LLC now owns 481 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 32 shares during the period. Finally, Bell Bank increased its stake in shares of Deere & Company by 10.3% in the second quarter. Bell Bank now owns 2,964 shares of the industrial products company’s stock worth $1,507,000 after purchasing an additional 278 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on DE shares. DA Davidson reaffirmed a “buy” rating and issued a $580.00 target price on shares of Deere & Company in a report on Monday, December 1st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $460.00 price objective on shares of Deere & Company in a research note on Tuesday, December 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Evercore ISI reissued a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Finally, Daiwa Capital Markets dropped their price target on Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average price target of $524.20.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $514.62 on Friday. The firm has a fifty day simple moving average of $478.44 and a two-hundred day simple moving average of $481.76. Deere & Company has a 52 week low of $404.42 and a 52 week high of $533.78. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $139.50 billion, a P/E ratio of 27.80, a PEG ratio of 1.97 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the previous year, the business posted $4.55 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. Deere & Company’s dividend payout ratio is currently 35.01%.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider directly owned 20,792 shares in the company, valued at $10,603,920. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares of the company’s stock, valued at $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 64,578 shares of company stock worth $32,471,682. Insiders own 0.29% of the company’s stock.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.