Wealthspire Advisors LLC Lowers Position in Deere & Company (NYSE:DE)

Wealthspire Advisors LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,792 shares of the industrial products company’s stock after selling 57 shares during the period. Wealthspire Advisors LLC’s holdings in Deere & Company were worth $759,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DE. Wellington Management Group LLP lifted its position in 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 valued at $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. FMR LLC raised its stake in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after acquiring an additional 852,885 shares in the last quarter. Stockbridge Partners LLC boosted its position in Deere & Company by 157.5% during the 3rd 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, Strategic Wealth Investment Group LLC acquired a new stake in Deere & Company in the 4th quarter valued at $148,359,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.6 %

NYSE:DE opened at $487.52 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company has a market capitalization of $132.78 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The stock has a 50-day simple moving average of $453.87 and a 200 day simple moving average of $423.91.

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 return on equity of 27.31% and a net margin of 12.94%. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 28.72%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Truist Financial reaffirmed a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Oppenheimer boosted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, StockNews.com lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $454.65.

Insiders Place Their Bets

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 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 directly owns 74,878 shares in the company, 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 legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

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.