Deere & Company (NYSE:DE) Shares Sold by Ieq Capital LLC

Ieq Capital LLC cut its position in Deere & Company (NYSE:DE) by 60.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,070 shares of the industrial products company’s stock after selling 7,810 shares during the period. Ieq Capital LLC’s holdings in Deere & Company were worth $2,149,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. CogentBlue Wealth Advisors LLC acquired a new stake in Deere & Company during the fourth quarter worth about $226,000. Bryn Mawr Capital Management LLC lifted its position in shares of Deere & Company by 414.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 4,731 shares of the industrial products company’s stock valued at $2,005,000 after buying an additional 3,812 shares in the last quarter. Financial Perspectives Inc grew its stake in Deere & Company by 68.9% in the 4th quarter. Financial Perspectives Inc now owns 407 shares of the industrial products company’s stock valued at $172,000 after acquiring an additional 166 shares during the period. Alberta Investment Management Corp purchased a new stake in Deere & Company in the 4th quarter worth $5,938,000. Finally, Hudson Value Partners LLC raised its position in Deere & Company by 2.3% during the fourth quarter. Hudson Value Partners LLC now owns 6,670 shares of the industrial products company’s stock worth $2,826,000 after acquiring an additional 150 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

DE opened at $489.98 on Monday. The stock’s 50-day moving average price is $452.07 and its 200 day moving average price is $421.97. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The firm has a market cap of $133.45 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.14 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 (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on DE. UBS Group raised their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Citigroup increased their price objective on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. StockNews.com cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Truist Financial reissued a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $454.65.

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.