Geo Capital Gestora de Recursos Ltd Reduces Holdings in Deere & Company (NYSE:DE)

Geo Capital Gestora de Recursos Ltd trimmed its stake in Deere & Company (NYSE:DE - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,138 shares of the industrial products company's stock after selling 1,685 shares during the period. Deere & Company accounts for about 7.7% of Geo Capital Gestora de Recursos Ltd's investment portfolio, making the stock its 4th biggest holding. Geo Capital Gestora de Recursos Ltd's holdings in Deere & Company were worth $5,990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Deere & Company during the fourth quarter valued at $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company in the 4th quarter worth about $34,000. Synergy Asset Management LLC bought a new position in Deere & Company in the 4th quarter worth about $35,000. Finally, Continuum Advisory LLC grew its position in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 67 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE stock traded down $0.17 during trading hours on Tuesday, hitting $479.79. The stock had a trading volume of 268,681 shares, compared to its average volume of 1,445,352. 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 stock has a market capitalization of $130.22 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The stock's 50-day moving average price is $474.26 and its two-hundred day moving average price is $437.56.

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

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders 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 dividend yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio is 28.72%.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Argus set a $510.00 target price on shares of Deere & Company in a research note on Friday, March 7th. Truist Financial reaffirmed a "buy" rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. StockNews.com lowered Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. boosted their target price on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Deere & Company has a consensus rating of "Hold" and an average target price of $460.00.

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.