Franklin Resources Inc. Sells 8,967 Shares of Deere & Company (NYSE:DE)

Franklin Resources Inc. lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 505,252 shares of the industrial products company's stock after selling 8,967 shares during the period. Franklin Resources Inc. owned 0.19% of Deere & Company worth $214,075,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Robertson Stephens Wealth Management LLC boosted its stake in Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock worth $426,000 after purchasing an additional 22 shares during the period. DLK Investment Management LLC boosted its position in shares of Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock valued at $3,479,000 after acquiring an additional 24 shares during the period. Quent Capital LLC boosted its position in shares of Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after acquiring an additional 24 shares during the period. Valeo Financial Advisors LLC increased its holdings in Deere & Company by 0.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock worth $3,398,000 after acquiring an additional 24 shares during the period. Finally, Douglas Lane & Associates LLC increased its holdings in shares of Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company's stock worth $236,000 after purchasing an additional 25 shares during the period. 68.58% of the stock is owned by institutional investors.

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Deere & Company Trading Down 3.8 %

Shares of Deere & Company stock traded down $17.20 during midday trading on Friday, reaching $430.25. 3,609,575 shares of the company's stock traded hands, compared to its average volume of 1,417,940. The stock has a 50 day moving average of $476.55 and a 200-day moving average of $442.09. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a market cap of $116.78 billion, a PE ratio of 19.07, a price-to-earnings-growth 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 (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating 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, equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal 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 issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.51%. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DE. Truist Financial reissued a "buy" rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. StockNews.com cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Sunday. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $460.00.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction 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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

Deere & 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.