Cerity Partners LLC Cuts Stake in Deere & Company (NYSE:DE)

Cerity Partners LLC cut its stake in Deere & Company (NYSE:DE - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,375 shares of the industrial products company's stock after selling 3,899 shares during the period. Cerity Partners LLC's holdings in Deere & Company were worth $47,094,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Geode Capital Management LLC increased its holdings in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after purchasing an additional 97,203 shares during the period. Norges Bank purchased a new position in Deere & Company during the 4th quarter worth $1,244,094,000. Fisher Asset Management LLC raised its position in Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock valued at $913,334,000 after purchasing an additional 160,956 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Deere & Company by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company's stock worth $874,473,000 after buying an additional 107,544 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

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Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DE shares. Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Citigroup lowered their price target on shares of Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. StockNews.com lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Sunday, April 6th. Truist Financial restated a "buy" rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, UBS Group decreased their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $457.26.

Deere & Company Stock Performance

NYSE DE traded up $15.56 on Friday, reaching $459.75. 1,245,049 shares of the company's stock traded hands, compared to its average volume of 1,433,099. The stock has a 50 day moving average price of $470.92 and a 200-day moving average price of $443.51. The firm has a market cap of $124.78 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 2.14 and a beta of 1.00. 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 has a fifty-two week low of $340.20 and a fifty-two week high of $515.05.

Deere & Company (NYSE:DE - Get Free Report) last issued its 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 return on equity of 27.31% and a net margin of 12.94%. Equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio is currently 28.72%.

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.