Ontario Teachers Pension Plan Board cut its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 51.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 645,895 shares of the industrial products company's stock after selling 695,731 shares during the period. Deere & Company accounts for 3.3% of Ontario Teachers Pension Plan Board's holdings, making the stock its 11th biggest holding. Ontario Teachers Pension Plan Board owned about 0.24% of Deere & Company worth $273,666,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of DE. Pineridge Advisors LLC grew its stake in shares of 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 acquiring an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at approximately $32,000. YANKCOM Partnership acquired a new position in Deere & Company in the 4th quarter worth about $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company during the fourth quarter valued at $35,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $44,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on 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 owns 74,878 shares of the company's stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company's stock.
Deere & Company Price Performance
Shares of NYSE:DE traded down $0.36 on Friday, reaching $452.06. 1,044,813 shares of the company were exchanged, compared to its average volume of 1,427,362. The company has a 50-day moving average of $469.77 and a 200-day moving average of $444.72. 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 firm has a market cap of $122.70 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating 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%. Equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders 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 annualized dividend and a dividend yield of 1.43%. Deere & Company's dividend payout ratio is presently 28.72%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Truist Financial reissued a "buy" rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, StockNews.com cut Deere & Company from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $459.89.
Check Out Our Latest Report on DE
Deere & Company Profile
(
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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