Deere & Company (NYSE:DE) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its holdings in Deere & Company (NYSE:DE - Free Report) by 58.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,167 shares of the industrial products company's stock after selling 64,211 shares during the period. Bank of Nova Scotia's holdings in Deere & Company were worth $19,567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Everence Capital Management Inc. lifted its holdings in Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock worth $5,179,000 after buying an additional 7,300 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $254,000. Toronto Dominion Bank lifted its position in Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock worth $36,288,000 after acquiring an additional 1,291 shares during the period. Czech National Bank grew its position in Deere & Company by 5.7% in the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock valued at $23,376,000 after buying an additional 2,964 shares during the last quarter. Finally, Banque Pictet & Cie SA increased its stake in shares of Deere & Company by 2.0% during the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock worth $33,165,000 after acquiring an additional 1,500 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

DE has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Citigroup reduced their target price on Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Truist Financial reaffirmed a "buy" rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, UBS Group lowered their target price on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $457.26.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

Deere & Company Trading Down 0.4 %

Shares of NYSE:DE traded down $2.04 during midday trading on Tuesday, reaching $465.63. The company's stock had a trading volume of 250,824 shares, compared to its average volume of 1,509,557. The firm has a market cap of $126.38 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The business has a 50 day moving average price of $470.92 and a 200 day moving average price of $443.86. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. 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 posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating 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%. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio is currently 28.72%.

Deere & 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.