Barings LLC Sells 3,450 Shares of Deere & Company (NYSE:DE)

Barings LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 26.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,402 shares of the industrial products company’s stock after selling 3,450 shares during the period. Barings LLC’s holdings in Deere & Company were worth $3,984,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DE. Hollencrest Capital Management boosted its position in shares of Deere & Company by 671.4% during the third quarter. Hollencrest Capital Management now owns 270 shares of the industrial products company’s stock valued at $113,000 after buying an additional 235 shares during the period. Easterly Investment Partners LLC purchased a new position in shares of Deere & Company during the third quarter valued at approximately $204,000. CWA Asset Management Group LLC purchased a new position in shares of Deere & Company during the third quarter valued at approximately $17,187,000. Holistic Planning LLC purchased a new position in shares of Deere & Company during the third quarter valued at approximately $294,000. Finally, Windward Capital Management Co. CA boosted its position in shares of Deere & Company by 3.7% during the third quarter. Windward Capital Management Co. CA now owns 16,478 shares of the industrial products company’s stock valued at $6,877,000 after buying an additional 593 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $499.73 on Friday. The business’s fifty day simple moving average is $461.21 and its 200-day simple moving average is $429.83. The company has a market cap of $135.63 billion, a PE ratio of 22.15, a PEG ratio of 2.14 and a beta of 1.01. 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 has a 12-month low of $340.20 and a 12-month high of $515.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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%. Analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders 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 dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is presently 28.72%.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DE shares. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Truist Financial reiterated 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. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Evercore ISI boosted their price target on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, thirteen 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 presently has a consensus rating of “Hold” and an average target price of $457.22.

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.