Narwhal Capital Management Has $726,000 Stock Holdings in Deere & Company (NYSE:DE)

Narwhal Capital Management decreased its holdings in shares of Deere & Company (NYSE:DE) by 75.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,944 shares of the industrial products company’s stock after selling 6,001 shares during the period. Narwhal Capital Management’s holdings in Deere & Company were worth $726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares in the last quarter. Pineridge Advisors LLC increased its holdings in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $29,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $30,000. Finally, Spartan Planning & Wealth Management acquired a new stake in Deere & Company in the 4th quarter worth approximately $33,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $381.85 on Friday. The business has a 50 day simple moving average of $369.04 and a 200 day simple moving average of $380.35. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The company has a market capitalization of $105.23 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92. Deere & Company has a one year low of $340.20 and a one year high of $417.46.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the business earned $10.20 earnings per share. The business’s revenue was down 20.3% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.54%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on DE. Oppenheimer lowered their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus boosted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Citigroup lowered their price target on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $414.11.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.