Main Street Financial Solutions LLC Decreases Stock Position in Deere & Company (NYSE:DE)

Main Street Financial Solutions LLC decreased its position in Deere & Company (NYSE:DE - Free Report) by 41.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,440 shares of the industrial products company's stock after selling 1,007 shares during the period. Main Street Financial Solutions LLC's holdings in Deere & Company were worth $610,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Stenger Family Office LLC purchased a new stake in Deere & Company during the fourth quarter valued at $3,144,000. United Capital Financial Advisors LLC boosted its holdings in shares of Deere & Company by 2.1% in the fourth quarter. United Capital Financial Advisors LLC now owns 55,827 shares of the industrial products company's stock worth $23,654,000 after buying an additional 1,173 shares during the last quarter. Jump Financial LLC bought a new stake in Deere & Company during the fourth quarter valued at approximately $2,053,000. AGP Franklin LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $544,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Deere & Company in the 4th quarter worth $1,763,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 2.7 %

Shares of NYSE DE traded up $12.14 during trading hours on Tuesday, reaching $453.70. The stock had a trading volume of 169,014 shares, compared to its average volume of 1,420,576. 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 business's fifty day moving average price is $469.08 and its two-hundred day moving average price is $445.21. The firm has a market cap of $123.14 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 2.14 and a beta of 1.00. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05.

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 the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.

Insider Activity 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 sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on DE. StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Citigroup lowered their price objective on Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Argus set a $510.00 price target on Deere & Company in a report on Friday, March 7th. Finally, Truist Financial reiterated a "buy" rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $460.21.

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.