Corebridge Financial Inc. Trims Holdings in Deere & Company (NYSE:DE)

Corebridge Financial Inc. cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,397 shares of the industrial products company's stock after selling 5,417 shares during the quarter. Corebridge Financial Inc.'s holdings in Deere & Company were worth $27,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in DE. Wellington Management Group LLP boosted its stake 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 valued at $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. FMR LLC grew its holdings in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Deere & Company in the fourth quarter worth $296,232,000. Stockbridge Partners LLC raised its holdings in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock valued at $369,019,000 after buying an additional 540,874 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Deere & Company by 52,200.3% during the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock valued at $224,920,000 after buying an additional 529,833 shares during the period. Institutional investors own 68.58% of the company's stock.

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Deere & Company Stock Performance

NYSE DE traded down $0.26 during trading hours on Tuesday, hitting $479.70. The company's stock had a trading volume of 808,216 shares, compared to its average volume of 1,360,837. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company's 50 day simple moving average is $475.21 and its two-hundred day simple moving average is $438.25. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company has a market cap of $130.20 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

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%. As a group, sell-side analysts expect that Deere & Company will post 19.32 EPS 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. Stockholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company's payout ratio is 28.72%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. StockNews.com lowered Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, March 1st. Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. Evercore ISI upped their target price on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $460.00.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the 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 owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

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.