Allspring Global Investments Holdings LLC Decreases Stock Position in Deere & Company (NYSE:DE)

Allspring Global Investments Holdings LLC cut its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,415 shares of the industrial products company's stock after selling 691 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Deere & Company were worth $5,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ledyard National Bank grew its holdings in shares of Deere & Company by 3.3% during the third quarter. Ledyard National Bank now owns 1,231 shares of the industrial products company's stock valued at $514,000 after buying an additional 39 shares in the last quarter. Calton & Associates Inc. bought a new stake in shares of Deere & Company in the 3rd quarter valued at $270,000. Fortis Group Advisors LLC increased its position in shares of Deere & Company by 357.8% in the 3rd quarter. Fortis Group Advisors LLC now owns 618 shares of the industrial products company's stock valued at $258,000 after buying an additional 483 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Deere & Company by 153.4% during the third quarter. Sequoia Financial Advisors LLC now owns 15,077 shares of the industrial products company's stock valued at $6,292,000 after purchasing an additional 9,128 shares during the last quarter. Finally, Eastern Bank raised its stake in Deere & Company by 293.7% in the third quarter. Eastern Bank now owns 4,059 shares of the industrial products company's stock valued at $1,694,000 after buying an additional 3,028 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DE. Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. UBS Group lifted their price target on Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a research note on Thursday. Jefferies Financial Group cut Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $454.65.

Deere & Company Stock Down 1.5 %

Deere & Company stock traded down $7.35 during midday trading on Friday, reaching $488.44. The stock had a trading volume of 508,661 shares, compared to its average volume of 1,447,299. The firm's fifty day simple moving average is $451.08 and its 200-day simple moving average is $419.90. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The stock has a market capitalization of $133.03 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 2.20 and a beta of 0.98. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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%. As a group, analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.33%. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio is presently 28.72%.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company's stock, valued at $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 SEC, which is available through this link. Corporate insiders own 0.29% of the company's stock.

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.