Invesco Ltd. Lowers Position in Deere & Company (NYSE:DE)

Invesco Ltd. reduced its stake in Deere & Company (NYSE:DE - Free Report) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,096,449 shares of the industrial products company's stock after selling 132,225 shares during the period. Invesco Ltd. owned approximately 0.40% of Deere & Company worth $464,565,000 at the end of the most recent reporting period.

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

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm's 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 completion of the sale, the insider now directly owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several analysts have weighed in on DE shares. UBS Group lowered their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Evercore ISI raised their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Truist Financial reiterated a "buy" rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Finally, StockNews.com downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Sunday, April 6th. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $457.26.

Deere & Company Trading Up 2.5 %

NYSE:DE traded up $11.25 during midday trading on Monday, reaching $470.38. 320,290 shares of the stock traded hands, compared to its average volume of 1,428,828. The stock has a market capitalization of $127.67 billion, a P/E ratio of 20.85, a PEG ratio of 2.14 and a beta of 1.00. 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 company has a fifty day moving average of $470.92 and a 200 day moving average of $443.51. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05.

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, 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%. On average, research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.

Deere & 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.