Amalgamated Bank Cuts Stake in Deere & Company (NYSE:DE)

Amalgamated Bank reduced its stake in shares of Deere & Company (NYSE:DE - Free Report) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,590 shares of the industrial products company's stock after selling 2,003 shares during the period. Amalgamated Bank's holdings in Deere & Company were worth $20,588,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in DE. Pineridge Advisors LLC grew its holdings in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company during the 4th quarter worth $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company during the fourth quarter worth about $35,000. Finally, Continuum Advisory LLC grew its position in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after acquiring an additional 67 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were 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 owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. Jefferies Financial Group lowered Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Morgan Stanley upped their price objective on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. Finally, Citigroup increased their target price 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $454.65.

Deere & Company Stock Performance

Shares of NYSE DE opened at $484.24 on Tuesday. The company has a market cap of $131.88 billion, a P/E ratio of 21.46, a P/E/G ratio of 2.14 and a beta of 0.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The business's 50 day moving average is $452.99 and its two-hundred day moving average is $422.92. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

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

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.34%. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.

About Deere & Company

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.

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