Deere & Company (NYSE:DE) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,882 shares of the industrial products company's stock after selling 3,197 shares during the quarter. Truist Financial Corp owned about 0.05% of Deere & Company worth $61,387,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DE. Robertson Stephens Wealth Management LLC lifted its holdings in Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock worth $426,000 after buying an additional 22 shares in the last quarter. DLK Investment Management LLC increased its position in shares of Deere & Company by 0.3% during the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock worth $3,479,000 after acquiring an additional 24 shares during the period. Quent Capital LLC raised its stake in shares of Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after acquiring an additional 24 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock valued at $3,398,000 after acquiring an additional 24 shares in the last quarter. Finally, Mattern Wealth Management LLC boosted its holdings in Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company's stock valued at $786,000 after purchasing an additional 25 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of Deere & Company stock traded down $5.81 on Friday, hitting $489.98. The stock had a trading volume of 1,102,183 shares, compared to its average volume of 1,465,614. The stock has a market cap of $133.45 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 2.20 and a beta of 0.98. The company has a current ratio of 2.22, a quick ratio of 1.98 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. The company's 50 day moving average price is $452.07 and its 200 day moving average price is $420.91.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping 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, research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a $1.62 dividend. This is an increase from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.32%. Deere & Company's dividend payout ratio is 28.72%.

Insider Buying and Selling

In other Deere & Company 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 value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DE shares. Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Citigroup upped their target price on shares of Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Evercore ISI increased their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research report on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $454.65.

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.