Grantham Mayo Van Otterloo & Co. LLC Decreases Stake in Deere & Company (NYSE:DE)

Grantham Mayo Van Otterloo & Co. LLC lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 36.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,054 shares of the industrial products company's stock after selling 18,259 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Deere & Company were worth $13,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of DE. Pineridge Advisors LLC raised its holdings 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 last quarter. Modus Advisors LLC purchased a new position in Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership purchased a new position in Deere & Company in the 4th quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth $35,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth $44,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DE shares. Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. Truist Financial reaffirmed a "buy" rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Evercore ISI boosted their price objective on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Finally, Citigroup cut their target price on Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of "Hold" and a consensus target price of $457.26.

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Deere & Company Trading Up 2.7 %

Shares of DE stock traded up $12.10 during trading hours on Friday, hitting $456.29. The company had a trading volume of 401,533 shares, compared to its average volume of 1,431,813. 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 $123.84 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company's fifty day moving average is $471.18 and its 200 day moving average is $442.92. 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 released its quarterly earnings results 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%. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

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.