Pinnacle Wealth Planning Services Inc. Invests $228,000 in Deere & Company (NYSE:DE)

Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,317 shares of the industrial products company’s stock, valued at approximately $228,000.

Other hedge funds also recently modified their holdings of the company. KLCM Advisors Inc. raised its stake in Deere & Company by 4.7% during the 3rd quarter. KLCM Advisors Inc. now owns 1,319 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 59 shares during the period. Benjamin Edwards Inc. lifted its position in Deere & Company by 69.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 62 shares during the last quarter. Beaton Management Co. Inc. lifted its position in Deere & Company by 1.1% during the 3rd quarter. Beaton Management Co. Inc. now owns 6,276 shares of the industrial products company’s stock worth $1,059,000 after acquiring an additional 68 shares during the last quarter. Fiduciary Trust Co. lifted its position in Deere & Company by 0.8% during the 4th quarter. Fiduciary Trust Co. now owns 9,045 shares of the industrial products company’s stock worth $1,567,000 after acquiring an additional 69 shares during the last quarter. Finally, Allied Investment Advisors LLC lifted its position in Deere & Company by 0.3% during the 4th quarter. Allied Investment Advisors LLC now owns 26,558 shares of the industrial products company’s stock worth $4,601,000 after acquiring an additional 70 shares during the last quarter. 68.24% of the stock is owned by institutional investors.

A number of research analysts have recently commented on DE shares. Citigroup cut their price objective on shares of Deere & Company from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Monday, December 2nd. Argus reaffirmed a “positive” rating and set a $185.00 price objective on shares of Deere & Company in a research report on Tuesday, December 3rd. BMO Capital Markets upped their price objective on shares of Deere & Company from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Deutsche Bank reaffirmed a “hold” rating and set a $169.00 price objective (up previously from $155.00) on shares of Deere & Company in a research report on Wednesday, November 20th. Finally, Wells Fargo & Co upped their price objective on shares of Deere & Company from $177.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $172.28.

In related news, insider Pentz Markwart Von sold 2,350 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $175.10, for a total transaction of $411,485.00. Following the sale, the insider now directly owns 62,762 shares in the company, valued at $10,989,626.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John C. May II sold 5,075 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $173.38, for a total transaction of $879,903.50. Following the sale, the chief executive officer now owns 49,157 shares in the company, valued at $8,522,840.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,688 shares of company stock worth $4,700,421. 0.70% of the stock is currently owned by company insiders.

Shares of DE traded down $2.69 during mid-day trading on Monday, hitting $168.07. 1,152,403 shares of the company traded hands, compared to its average volume of 1,405,550. Deere & Company has a one year low of $132.68 and a one year high of $180.48. The company has a current ratio of 2.04, a quick ratio of 1.80 and a debt-to-equity ratio of 2.65. The business has a 50-day moving average of $170.90 and a 200 day moving average of $167.18. The stock has a market capitalization of $52.91 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 3.97 and a beta of 1.14.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.01. The firm had revenue of $8.70 billion for the quarter, compared to analysts’ expectations of $8.41 billion. Deere & Company had a net margin of 8.29% and a return on equity of 27.11%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.30 earnings per share. As a group, analysts anticipate that Deere & Company will post 9.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a dividend of $0.76 per share. The ex-dividend date was Monday, December 30th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.81%. Deere & Company’s payout ratio is 30.58%.

Deere & 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.

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

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