Deere & Company (NYSE:DE) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its position in Deere & Company (NYSE:DE - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,347 shares of the industrial products company's stock after selling 30,112 shares during the quarter. Prudential Financial Inc. owned 0.05% of Deere & Company worth $62,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Deere & Company by 41.6% in the third quarter. Larson Financial Group LLC now owns 2,510 shares of the industrial products company's stock worth $1,047,000 after acquiring an additional 737 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Deere & Company by 6.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 44,255 shares of the industrial products company's stock valued at $18,469,000 after purchasing an additional 2,759 shares in the last quarter. Fisher Asset Management LLC raised its position in Deere & Company by 8.6% in the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company's stock valued at $832,431,000 after purchasing an additional 158,732 shares during the period. Douglass Winthrop Advisors LLC raised its position in Deere & Company by 2.9% in the third quarter. Douglass Winthrop Advisors LLC now owns 273,207 shares of the industrial products company's stock valued at $114,017,000 after purchasing an additional 7,753 shares during the period. Finally, Prosperity Financial Group Inc. lifted its stake in shares of Deere & Company by 6.8% during the third quarter. Prosperity Financial Group Inc. now owns 901 shares of the industrial products company's stock worth $376,000 after purchasing an additional 57 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. Oppenheimer upped their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. StockNews.com raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday. Truist Financial reissued a "buy" rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Jefferies Financial Group downgraded Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $460.00.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $14.45 during trading on Friday, reaching $465.27. 1,183,544 shares of the company's stock traded hands, compared to its average volume of 1,400,727. The stock has a market capitalization of $126.28 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a 50 day moving average of $477.28 and a 200-day moving average of $439.76. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS 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%. On average, equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio is presently 28.72%.

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.