Nomura Asset Management Co. Ltd. Sells 627 Shares of Deere & Company (NYSE:DE)

Nomura Asset Management Co. Ltd. cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,851 shares of the industrial products company's stock after selling 627 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Deere & Company were worth $33,409,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DE. Pineridge Advisors LLC boosted its position in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC acquired a new position in Deere & Company in the 4th quarter valued at approximately $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company during the 4th quarter valued at $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at $35,000. Finally, Continuum Advisory LLC increased its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after acquiring an additional 67 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction on 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 sale, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company's stock.

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Deere & Company Stock Performance

Shares of DE traded down $6.98 on Wednesday, reaching $471.48. 442,754 shares of the stock traded hands, compared to its average volume of 1,416,979. The stock's 50-day moving average price is $477.87 and its 200-day moving average price is $441.29. 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 firm has a market cap of $127.96 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared 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 yield of 1.37%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio is 28.72%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Argus set a $510.00 target price on Deere & Company in a research report on Friday, March 7th. Truist Financial reaffirmed a "buy" rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Robert W. Baird reissued a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. Evercore ISI raised their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Finally, 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 report on Tuesday, January 28th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $460.00.

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.