Deere & Company (NYSE:DE) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. reduced its stake in shares of Deere & Company (NYSE:DE) by 6.1% during the 4th quarter, HoldingsChannel reports. The firm owned 509,063 shares of the industrial products company’s stock after selling 33,128 shares during the quarter. Baillie Gifford & Co.’s holdings in Deere & Company were worth $215,690,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Robertson Stephens Wealth Management LLC boosted its stake in Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 22 shares in the last quarter. DLK Investment Management LLC raised its holdings in shares of Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after buying an additional 24 shares during the last quarter. Quent Capital LLC raised its holdings 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 buying an additional 24 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings 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 buying an additional 24 shares during the last quarter. Finally, Mattern Wealth Management LLC raised its holdings in shares of 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 buying an additional 25 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DE shares. Morgan Stanley upped their target price 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. Truist Financial reaffirmed a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday. 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 report on Tuesday, January 28th. Barclays increased their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, UBS Group raised their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $450.12.

Deere & Company Trading Up 3.0 %

Shares of Deere & Company stock opened at $480.17 on Monday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 1 year low of $340.20 and a 1 year high of $485.84. The company has a market capitalization of $130.77 billion, a P/E ratio of 18.76, a P/E/G ratio of 2.87 and a beta of 0.98. The business has a 50 day moving average price of $446.95 and a 200 day moving average price of $416.52.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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 return on equity of 31.32% and a net margin of 13.73%. Sell-side analysts anticipate that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

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.