Forum Financial Management LP cut its stake in Deere & Company (NYSE:DE - Free Report) by 64.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,597 shares of the industrial products company's stock after selling 8,355 shares during the period. Forum Financial Management LP's holdings in Deere & Company were worth $1,948,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter valued at $32,000. YANKCOM Partnership bought a new stake in shares of Deere & Company in the 4th quarter worth $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $35,000. Finally, Sierra Ocean LLC bought a new position in Deere & Company during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Insiders Place Their Bets
In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.29% of the company's stock.
Deere & Company Stock Up 1.8 %
DE stock traded up $8.22 during mid-day trading on Thursday, hitting $464.66. The stock had a trading volume of 275,351 shares, compared to its average volume of 1,469,588. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The company has a fifty day moving average of $468.39 and a 200 day moving average of $445.35. 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 stock has a market capitalization of $126.12 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.14 and a beta of 1.00.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts' consensus estimates 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, equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors 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 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is presently 28.72%.
Analyst Ratings Changes
A number of brokerages have weighed in on DE. StockNews.com downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Sunday, April 6th. Truist Financial restated a "buy" rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Citigroup dropped their price target on Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. UBS Group reduced their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Baird R W downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $460.21.
Get Our Latest Stock Analysis on Deere & Company
About Deere & Company
(
Free Report)
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.
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