SeaCrest Wealth Management LLC Decreases Holdings in Deere & Company (NYSE:DE)

SeaCrest Wealth Management LLC decreased its position in shares of Deere & Company (NYSE:DE) by 14.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,354 shares of the industrial products company’s stock after selling 1,091 shares during the period. SeaCrest Wealth Management LLC’s holdings in Deere & Company were worth $1,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. First Personal Financial Services lifted its position in Deere & Company by 0.6% during the third quarter. First Personal Financial Services now owns 44,375 shares of the industrial products company’s stock valued at $7,485,000 after acquiring an additional 257 shares during the last quarter. Triangle Securities Wealth Management lifted its position in Deere & Company by 16.0% during the third quarter. Triangle Securities Wealth Management now owns 3,706 shares of the industrial products company’s stock valued at $625,000 after acquiring an additional 510 shares during the last quarter. Ferguson Wellman Capital Management Inc. purchased a new stake in Deere & Company during the third quarter valued at approximately $2,062,000. Windward Capital Management Co. CA lifted its position in Deere & Company by 10.7% during the third quarter. Windward Capital Management Co. CA now owns 15,295 shares of the industrial products company’s stock valued at $2,580,000 after acquiring an additional 1,480 shares during the last quarter. Finally, Atwater Malick LLC purchased a new stake in Deere & Company during the third quarter valued at approximately $27,000. 67.54% of the stock is owned by institutional investors.

Shares of NYSE DE traded down $0.83 during midday trading on Wednesday, reaching $171.81. The company had a trading volume of 918,813 shares, compared to its average volume of 2,013,008. The business’s 50-day simple moving average is $162.72 and its 200 day simple moving average is $158.52. The stock has a market cap of $53.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.57 and a beta of 1.16. Deere & Company has a 1 year low of $128.32 and a 1 year high of $173.26. The company has a current ratio of 1.99, a quick ratio of 1.73 and a debt-to-equity ratio of 2.38.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.80 by ($0.09). The company had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $9.38 billion. Deere & Company had a return on equity of 27.75% and a net margin of 8.55%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.59 EPS. Analysts predict that Deere & Company will post 9.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a dividend of $0.76 per share. The ex-dividend date is Friday, September 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.77%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.

In related news, COO John C. May II sold 5,228 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the transaction, the chief operating officer now owns 49,310 shares of the company’s stock, valued at $8,382,700. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.71% of the company’s stock.

A number of equities research analysts recently commented on DE shares. Robert W. Baird set a $178.00 target price on shares of Deere & Company and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley increased their target price on shares of Deere & Company from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Credit Suisse Group reissued an “outperform” rating and set a $197.00 target price (up previously from $176.00) on shares of Deere & Company in a research report on Monday, August 19th. Bank of America decreased their target price on shares of Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Finally, Stephens started coverage on shares of Deere & Company in a research report on Wednesday, August 14th. They set an “equal weight” rating and a $160.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $168.53.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

Further Reading: What is a Leveraged Buyout (LBO)?

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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