Laurel Wealth Advisors Inc. Sells 275 Shares of Deere & Company (NYSE:DE)
Laurel Wealth Advisors Inc. reduced its stake in shares of Deere & Company (NYSE:DE) by 9.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,715 shares of the industrial products company’s stock after selling 275 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Deere & were worth $295,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Ledyard National Bank boosted its position in shares of Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock valued at $114,000 after buying an additional 50 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of Deere & by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock valued at $123,000 after buying an additional 16 shares during the period. MCF Advisors LLC boosted its position in shares of Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $126,000 after buying an additional 241 shares during the period. Endurance Wealth Management Inc. boosted its position in shares of Deere & by 2.2% in the first quarter. Endurance Wealth Management Inc. now owns 1,404 shares of the industrial products company’s stock valued at $153,000 after buying an additional 30 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Deere & by 14.7% in the first quarter. Parallel Advisors LLC now owns 1,504 shares of the industrial products company’s stock valued at $167,000 after buying an additional 193 shares during the period. Institutional investors own 67.35% of the company’s stock.
Deere & Company (DE) traded up 1.12% during midday trading on Tuesday, hitting $131.41. The stock had a trading volume of 441,823 shares. The company has a market capitalization of $42.03 billion, a PE ratio of 23.66 and a beta of 0.67. The stock’s 50-day moving average is $125.86 and its 200-day moving average is $115.48. Deere & Company has a 1-year low of $76.73 and a 1-year high of $131.46. Deere & also was the recipient of some unusual options trading on Monday. Stock investors acquired 731 call options on the company. This represents an increase of approximately 255% compared to the average daily volume of 206 call options.
Deere & (NYSE:DE) last released its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.79. The company had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.27 billion. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.56 earnings per share. Equities research analysts forecast that Deere & Company will post $6.37 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 1.85%. Deere &’s dividend payout ratio is currently 43.24%.
Several equities analysts have recently weighed in on the company. Credit Suisse Group set a $132.00 price target on Deere & and gave the company a “buy” rating in a research report on Saturday, May 20th. BidaskClub cut Deere & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Barclays PLC reiterated a “sell” rating and issued a $82.00 price target (up from $80.00) on shares of Deere & in a research report on Tuesday, April 18th. Stifel Nicolaus lifted their price target on Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, May 22nd. Finally, J P Morgan Chase & Co upgraded Deere & from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $103.00 to $122.00 in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the stock. Deere & has a consensus rating of “Hold” and a consensus price target of $122.60.
In related news, VP Marc A. Howze sold 6,624 shares of Deere & stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $119.59, for a total value of $792,164.16. Following the completion of the transaction, the vice president now owns 9,004 shares in the company, valued at $1,076,788.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jean H. Gilles sold 12,361 shares of Deere & stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $129.90, for a total value of $1,605,693.90. Following the completion of the transaction, the insider now owns 74,981 shares of the company’s stock, valued at approximately $9,740,031.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,973 shares of company stock valued at $14,754,717. 0.75% of the stock is currently owned by company insiders.
Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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