Mutual of America Capital Management LLC Trims Stake in Deere & Company (NYSE:DE)

Mutual of America Capital Management LLC trimmed its stake in Deere & Company (NYSE:DE) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,277 shares of the industrial products company’s stock after selling 1,854 shares during the period. Mutual of America Capital Management LLC’s holdings in Deere & Company were worth $15,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DE. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company in the 4th quarter worth $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth $35,000. Finally, Continuum Advisory LLC increased its stake in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $480.25 on Friday. The business’s fifty day simple moving average is $456.95 and its 200-day simple moving average is $425.63. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The company has a market cap of $130.80 billion, a PE ratio of 21.29, 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 released its earnings results 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 net margin of 12.94% and a return on equity of 27.31%. Analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DE shares. Morgan Stanley upped their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Oppenheimer upped their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Barclays upped their target price 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. Evercore ISI upped their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $454.65.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

About Deere & Company

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.