Deere & Company (NYSE:DE) Position Lowered by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its holdings in Deere & Company (NYSE:DE - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,126,319 shares of the industrial products company's stock after selling 32,098 shares during the quarter. Alliancebernstein L.P. owned about 0.41% of Deere & Company worth $477,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Townsquare Capital LLC increased its stake in Deere & Company by 26.2% in the 3rd quarter. Townsquare Capital LLC now owns 6,354 shares of the industrial products company's stock valued at $2,652,000 after buying an additional 1,319 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Deere & Company by 14.2% during the third quarter. Public Sector Pension Investment Board now owns 10,471 shares of the industrial products company's stock worth $4,370,000 after acquiring an additional 1,300 shares during the period. Icon Wealth Advisors LLC acquired a new position in shares of Deere & Company during the third quarter worth about $113,000. Circle Wealth Management LLC acquired a new stake in Deere & Company in the third quarter valued at about $382,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Deere & Company in the third quarter valued at about $27,961,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company's stock.

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Deere & Company Trading Down 5.0 %

Shares of DE traded down $23.71 during trading hours on Thursday, hitting $447.19. The stock had a trading volume of 1,885,632 shares, compared to its average volume of 1,404,051. The firm has a market cap of $121.37 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company's fifty day simple moving average is $478.09 and its 200 day simple moving average is $441.50.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.45%. Deere & Company's dividend payout ratio is presently 28.72%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DE shares. Truist Financial reissued a "buy" rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Jefferies Financial Group cut Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Oppenheimer raised 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. Citigroup increased their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $460.00.

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.