Quadcap Wealth Management LLC Sells 45 Shares of Deere & Company (NYSE:DE)

Quadcap Wealth Management LLC trimmed its position in Deere & Company (NYSE:DE) by 3.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,327 shares of the industrial products company’s stock after selling 45 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Deere & Company were worth $563,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. YANKCOM Partnership bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $35,000. Sierra Ocean LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $44,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $48,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $516.85 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $531.54. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock has a market capitalization of $140.28 billion, a PE ratio of 22.91, a P/E/G ratio of 2.14 and a beta of 1.08. The company’s 50 day simple moving average is $467.17 and its two-hundred day simple moving average is $453.46.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research reports. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. Citigroup reduced their target price on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Robert W. Baird reissued a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. StockNews.com raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average target price of $462.44.

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.