Korea Investment CORP reduced its holdings in Deere & Company (NYSE:DE - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,259 shares of the industrial products company's stock after selling 7,151 shares during the period. Korea Investment CORP owned approximately 0.07% of Deere & Company worth $82,308,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of DE. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after buying an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC raised its stake in shares of Deere & Company by 155.8% in the third 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 in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Deere & Company
In other news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was 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 in the company, valued at $37,484,675.58. The trade was 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. 0.29% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on DE. Truist Financial restated a "buy" rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Jefferies Financial Group lowered Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price target on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Evercore ISI lifted their price objective on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Finally, Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $460.00.
Get Our Latest Research Report on DE
Deere & Company Stock Up 1.1 %
NYSE:DE opened at $470.31 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The stock's fifty day simple moving average is $477.56 and its 200-day simple moving average is $440.70. The firm has a market capitalization of $127.65 billion, a P/E ratio of 20.85, a P/E/G ratio of 2.14 and a beta of 1.01.
Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results 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 research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The firm 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 1.38%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio is currently 28.72%.
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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