Deere & Company (NYSE:DE) Shares Sold by 1ST Source Bank

1ST Source Bank reduced its position in Deere & Company (NYSE:DE) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,424 shares of the industrial products company’s stock after selling 125 shares during the quarter. 1ST Source Bank’s holdings in Deere & Company were worth $2,722,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DE. Wellington Management Group LLP lifted its holdings in shares of 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 period. FMR LLC lifted its holdings in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Deere & Company during the fourth quarter worth $296,232,000. Stockbridge Partners LLC lifted its holdings in shares of Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Deere & Company by 52,200.3% during the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock worth $224,920,000 after purchasing an additional 529,833 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 2.5 %

Deere & Company stock opened at $478.67 on Monday. The stock has a market cap of $129.92 billion, a PE ratio of 21.22, a P/E/G ratio of 2.14 and a beta of 1.01. The stock has a 50-day moving average price of $466.59 and a 200 day moving average price of $433.63. Deere & Company has a 52 week low of $340.20 and a 52 week 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.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping 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%. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DE. Citigroup raised their target price on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. 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 report on Friday, December 6th. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Truist Financial reissued a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $460.00.

Insider Buying and Selling at Deere & Company

In other Deere & Company 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 sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

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.