Sei Investments Co. Reduces Stock Holdings in Deere & Company (NYSE:DE)

Sei Investments Co. cut its stake in Deere & Company (NYSE:DE - Free Report) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,145 shares of the industrial products company's stock after selling 5,915 shares during the period. Sei Investments Co. owned approximately 0.06% of Deere & Company worth $68,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Wellington Management Group LLP increased its position in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock valued at $2,168,737,000 after buying an additional 31,459 shares during the period. FMR LLC increased its holdings in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock worth $1,895,518,000 after buying an additional 988,380 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock worth $913,334,000 after buying an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Deere & Company by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company's stock valued at $874,473,000 after buying an additional 107,544 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts recently weighed in on the company. Evercore ISI increased their price objective on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Truist Financial reiterated a "buy" rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, March 1st. 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 report on Tuesday, January 28th. Finally, Jefferies Financial Group cut shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $460.00.

Deere & Company Stock Down 0.8 %

DE stock traded down $3.93 during midday trading on Thursday, hitting $479.69. The company's stock had a trading volume of 1,193,176 shares, compared to its average volume of 1,356,858. The firm has a 50-day simple moving average of $476.30 and a 200-day simple moving average of $438.57. The firm has a market capitalization of $130.19 billion, a P/E ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01. 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 52-week low of $340.20 and a 52-week high of $515.05.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results 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%. As a group, equities analysts forecast that Deere & Company will post 19.32 EPS for the current 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 $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is presently 28.72%.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.

Deere & 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.