Deere & Company (NYSE:DE) Position Trimmed by Groupama Asset Managment

Groupama Asset Managment lowered its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 92.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 914 shares of the industrial products company's stock after selling 10,845 shares during the period. Groupama Asset Managment's holdings in Deere & Company were worth $388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of DE. Wellington Management Group LLP increased its position in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after buying an additional 97,203 shares during the period. Norges Bank acquired a new stake in Deere & Company during the fourth quarter worth approximately $1,244,094,000. Fisher Asset Management LLC boosted its position in Deere & Company by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock worth $913,334,000 after acquiring an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Deere & Company by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company's stock valued at $874,473,000 after acquiring an additional 107,544 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

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Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company's 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 sale, the insider now 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 filing with the SEC, which is available through this link. Insiders own 0.29% of the company's stock.

Deere & Company Stock Down 1.8 %

DE stock traded down $7.71 during trading on Monday, reaching $422.15. The stock had a trading volume of 3,007,373 shares, compared to its average volume of 1,424,272. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. 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 market capitalization of $114.58 billion, a P/E ratio of 18.71, a PEG ratio of 2.14 and a beta of 1.00. The firm has a fifty day moving average price of $476.55 and a 200 day moving average price of $442.38.

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 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, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is currently 28.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Robert W. Baird restated a "neutral" rating and set a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. Oppenheimer raised their price target on Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Truist Financial reaffirmed a "buy" rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Citigroup raised their target price on shares of Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, StockNews.com lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Sunday. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $458.84.

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.