Deere & Company (NYSE:DE) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in shares of Deere & Company (NYSE:DE - Free Report) by 87.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,482 shares of the industrial products company's stock after selling 51,045 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Deere & Company were worth $3,170,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DE. Xponance Inc. lifted its stake in Deere & Company by 3.3% during the 4th quarter. Xponance Inc. now owns 39,289 shares of the industrial products company's stock worth $16,647,000 after acquiring an additional 1,251 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Deere & Company in the fourth quarter valued at approximately $3,177,000. Horizon Investments LLC grew its holdings in shares of Deere & Company by 2.9% in the fourth quarter. Horizon Investments LLC now owns 4,455 shares of the industrial products company's stock valued at $1,888,000 after purchasing an additional 124 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Deere & Company by 6.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 32,728 shares of the industrial products company's stock worth $13,509,000 after buying an additional 1,934 shares during the period. Finally, PDS Planning Inc increased its stake in Deere & Company by 1.1% during the 4th quarter. PDS Planning Inc now owns 6,312 shares of the industrial products company's stock worth $2,674,000 after buying an additional 66 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

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Deere & Company Stock Performance

Shares of NYSE DE traded up $8.01 during trading hours on Monday, reaching $480.44. The stock had a trading volume of 903,807 shares, compared to its average volume of 1,360,000. The firm has a 50-day moving average of $473.25 and a 200-day moving average of $436.88. The firm has a market cap of $130.40 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05.

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

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is currently 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on DE. 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 research report on Wednesday, February 19th. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. StockNews.com lowered Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, March 1st. Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. One equities research 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, Deere & Company currently has a consensus rating of "Hold" and a consensus target price of $460.00.

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.