Pinnacle Wealth Planning Services Inc. Has $390,000 Stock Position in Deere & Company (NYSE:DE)

Pinnacle Wealth Planning Services Inc. reduced its position in shares of Deere & Company (NYSE:DE) by 40.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 920 shares of the industrial products company’s stock after selling 633 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Deere & Company were worth $390,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC increased its holdings in Deere & Company by 60.5% during 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. Modus Advisors LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership bought a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $44,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 3.4 %

Shares of Deere & Company stock opened at $483.19 on Friday. The company has a market cap of $131.60 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The company’s 50 day moving average is $459.82 and its 200 day moving average is $428.56. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.34%. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DE shares. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Friday, December 6th. Oppenheimer upped their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Citigroup upped their target price on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $457.22.

Deere & Company Company Profile

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.