MML Investors Services LLC Sells 813 Shares of Deere & Company (NYSE:DE)

MML Investors Services LLC lowered its position in shares of Deere & Company (NYSE:DE - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,975 shares of the industrial products company's stock after selling 813 shares during the period. MML Investors Services LLC's holdings in Deere & Company were worth $23,717,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Pineridge Advisors LLC lifted 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 valued at $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of Deere & Company during the 4th quarter worth $32,000. YANKCOM Partnership bought a new position in Deere & Company in the fourth quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Deere & Company in the 4th quarter worth about $44,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE opened at $441.89 on Tuesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm's 50-day simple moving average is $469.08 and its two-hundred day simple moving average is $445.21. The stock has a market cap of $119.94 billion, a PE ratio of 19.59, a price-to-earnings-growth 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.

Deere & Company (NYSE:DE - Get Free Report) last announced 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 return on equity of 27.31% and a net margin of 12.94%. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.47%. Deere & Company's dividend payout ratio is currently 28.72%.

Analysts Set New Price Targets

A number of analysts recently weighed in on DE shares. Oppenheimer boosted their target price on Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. Truist Financial reiterated a "buy" rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. StockNews.com cut Deere & Company from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. Finally, Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. One equities 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $459.89.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

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.

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