Deere & Company (NYSE:DE) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 16.8% during the fourth quarter, HoldingsChannel reports. The fund owned 3,000 shares of the industrial products company’s stock after selling 605 shares during the quarter. Global Retirement Partners LLC’s holdings in Deere & Company were worth $1,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in DE. Pineridge Advisors LLC lifted its holdings in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter worth about $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the fourth quarter worth about $35,000. Finally, Continuum Advisory LLC lifted its position in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.2 %

NYSE DE opened at $489.98 on Friday. The company has a market cap of $133.45 billion, a P/E ratio of 21.72, a P/E/G ratio of 2.20 and a beta of 0.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company has a 50-day moving average of $452.07 and a 200-day moving average of $420.91.

Deere & Company (NYSE:DE) last issued 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 net margin of 12.94% and a return on equity of 27.31%. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Increases Dividend

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

Wall Street Analysts Forecast Growth

DE has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Oppenheimer raised their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Evercore ISI boosted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday. Citigroup raised their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $546.00 price target (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, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $454.65.

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 that occurred 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 transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.