Kerrisdale Advisers LLC Lowers Stock Holdings in Deere & Company (NYSE:DE)

Kerrisdale Advisers LLC trimmed its position in Deere & Company (NYSE:DE - Free Report) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,238 shares of the industrial products company's stock after selling 1,260 shares during the quarter. Deere & Company makes up 1.2% of Kerrisdale Advisers LLC's investment portfolio, making the stock its 23rd largest position. Kerrisdale Advisers LLC's holdings in Deere & Company were worth $3,490,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. SkyView Investment Advisors LLC raised its stake in Deere & Company by 6.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,098 shares of the industrial products company's stock worth $458,000 after acquiring an additional 68 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its position in shares of Deere & Company by 13.9% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,879 shares of the industrial products company's stock worth $4,131,000 after purchasing an additional 1,205 shares in the last quarter. Arvest Bank Trust Division purchased a new stake in shares of Deere & Company in the 3rd quarter valued at about $1,252,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Deere & Company by 162.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,563 shares of the industrial products company's stock valued at $8,999,000 after purchasing an additional 13,334 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Deere & Company by 56.3% in the 3rd quarter. Tidal Investments LLC now owns 38,689 shares of the industrial products company's stock valued at $16,146,000 after purchasing an additional 13,934 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deere & Company

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup reduced their price objective on Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. StockNews.com downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Sunday, April 6th. Truist Financial reaffirmed a "buy" rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Robert W. Baird reissued a "neutral" rating and set a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. Finally, Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $460.21.

Deere & Company Price Performance

Shares of NYSE:DE traded down $5.59 during trading on Friday, hitting $458.92. 983,357 shares of the stock were exchanged, compared to its average volume of 1,423,235. The company has a market cap of $124.56 billion, a PE ratio of 20.34, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a fifty day moving average price of $467.21 and a two-hundred day moving average price of $446.44. 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 posted its earnings results 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%. On average, analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is currently 28.72%.

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.