CIBC Private Wealth Group LLC Reduces Stake in Deere & Company (NYSE:DE)

CIBC Private Wealth Group LLC reduced its stake in Deere & Company (NYSE:DE - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,229 shares of the industrial products company's stock after selling 594 shares during the period. CIBC Private Wealth Group LLC's holdings in Deere & Company were worth $11,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Norges Bank bought a new stake in shares of Deere & Company in the 4th quarter valued at about $1,244,094,000. Wellington Management Group LLP lifted its position in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Raymond James Financial Inc. bought a new position in Deere & Company during the fourth quarter worth $296,232,000. Proficio Capital Partners LLC raised its stake in Deere & Company by 52,200.3% during the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock worth $224,920,000 after buying an additional 529,833 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC bought a new stake in Deere & Company during the fourth quarter valued at $148,359,000. 68.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction 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 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 legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

DE has been the topic of a number of recent analyst reports. StockNews.com raised Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, March 29th. Truist Financial reissued a "buy" rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Robert W. Baird reaffirmed a "neutral" rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Jefferies Financial Group lowered shares of 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. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $460.00.

Deere & Company Stock Down 5.1 %

Shares of DE stock traded down $23.93 during trading hours on Thursday, reaching $446.98. The company had a trading volume of 2,287,645 shares, compared to its average volume of 1,405,280. The company has a market cap of $121.32 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The business has a fifty day simple moving average of $478.09 and a 200-day simple moving average of $441.50.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results 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 return on equity of 27.31% and a net margin of 12.94%. On average, research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.45%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 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.