Coastline Trust Co lessened its stake in shares of Deere & Company (NYSE:DE - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,534 shares of the industrial products company's stock after selling 746 shares during the period. Coastline Trust Co's holdings in Deere & Company were worth $1,074,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Pineridge Advisors LLC boosted its holdings in Deere & Company by 60.5% during the 4th 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 purchased a new position in shares of Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $35,000. Finally, Sierra Ocean LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on DE shares. 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. Oppenheimer raised their price objective on shares of Deere & Company from $510.00 to $513.00 and gave the stock an "outperform" rating in a report on Tuesday. Truist Financial reiterated 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. Citigroup cut their target price on Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com lowered Deere & Company from a "hold" rating to a "sell" rating in a research report on Sunday, April 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of "Hold" and a consensus target price of $460.21.
Get Our Latest Stock Report on Deere & Company
Deere & Company Trading Up 2.1 %
Shares of NYSE:DE traded up $9.51 during midday trading on Thursday, reaching $465.95. The company's stock had a trading volume of 330,695 shares, compared to its average volume of 1,470,147. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The business has a 50 day moving average price of $468.39 and a 200 day moving average price of $445.35. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm has a market cap of $126.46 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data 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%. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Announces Dividend
The business also recently disclosed 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 dividend yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio is presently 28.72%.
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 that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.
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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