Elo Mutual Pension Insurance Co Trims Stake in Deere & Company (NYSE:DE)

Elo Mutual Pension Insurance Co decreased its stake in Deere & Company (NYSE:DE - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,720 shares of the industrial products company's stock after selling 1,160 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Deere & Company were worth $10,050,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Deere & Company by 9.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 409,105 shares of the industrial products company's stock valued at $172,732,000 after acquiring an additional 35,074 shares during the period. Excalibur Management Corp raised its position in Deere & Company by 2.2% in the 4th quarter. Excalibur Management Corp now owns 2,314 shares of the industrial products company's stock worth $980,000 after purchasing an additional 49 shares during the period. Ausdal Financial Partners Inc. lifted its stake in Deere & Company by 0.8% in the fourth quarter. Ausdal Financial Partners Inc. now owns 8,961 shares of the industrial products company's stock worth $3,797,000 after purchasing an additional 68 shares during the last quarter. Morey & Quinn Wealth Partners LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $1,033,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $878,000. Institutional investors own 68.58% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have weighed in on DE. Robert W. Baird reiterated a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Truist Financial restated a "buy" rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. Finally, StockNews.com upgraded Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $460.00.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were 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 of the company's stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.

Deere & Company Stock Performance

DE stock traded up $0.21 during trading on Monday, reaching $463.90. The company had a trading volume of 445,746 shares, compared to its average volume of 1,418,328. The company has a market cap of $125.91 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a 50-day simple moving average of $477.28 and a 200-day simple moving average of $440.12.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is 28.72%.

About Deere & Company

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.