Braun Stacey Associates Inc. trimmed its holdings in Deere & Company (NYSE:DE - Free Report) by 20.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,838 shares of the industrial products company's stock after selling 2,736 shares during the quarter. Braun Stacey Associates Inc.'s holdings in Deere & Company were worth $4,592,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Pineridge Advisors LLC boosted its position in shares of 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 acquiring an additional 26 shares during the period. Modus Advisors LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $32,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the third quarter valued at approximately $32,000. YANKCOM Partnership bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $35,000. 68.58% of the stock is owned by institutional investors.
Insider Activity
In other 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 in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
DE has been the subject of several research reports. Evercore ISI increased their price objective on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research report on Wednesday. StockNews.com cut Deere & Company from a "hold" rating to a "sell" rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Truist Financial reaffirmed a "buy" rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of "Hold" and an average target price of $454.65.
Get Our Latest Research Report on DE
Deere & Company Price Performance
Shares of NYSE DE traded down $5.81 during midday trading on Friday, reaching $489.98. 1,102,183 shares of the company traded hands, compared to its average volume of 1,465,614. The firm has a market cap of $133.45 billion, a PE ratio of 21.72, a PEG ratio of 2.20 and a beta of 0.98. The stock's 50-day simple moving average is $452.07 and its 200-day simple moving average is $420.91. 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.
Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts' consensus estimates 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, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a $1.62 dividend. The ex-dividend date was Tuesday, December 31st. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.32%. Deere & Company's dividend payout ratio (DPR) is 28.72%.
About Deere & Company
(
Free Report)
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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