Deere & Company (NYSE:DE) Shares Sold by Everstar Asset Management LLC

Everstar Asset Management LLC reduced its position in shares of Deere & Company (NYSE:DE) by 10.3% during the fourth quarter, HoldingsChannel reports. The firm owned 733 shares of the industrial products company’s stock after selling 84 shares during the quarter. Everstar Asset Management LLC’s holdings in Deere & Company were worth $311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Townsquare Capital LLC grew its stake in shares of Deere & Company by 26.2% during the third quarter. Townsquare Capital LLC now owns 6,354 shares of the industrial products company’s stock valued at $2,652,000 after acquiring an additional 1,319 shares in the last quarter. Public Sector Pension Investment Board grew its stake in Deere & Company by 14.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,471 shares of the industrial products company’s stock valued at $4,370,000 after purchasing an additional 1,300 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in Deere & Company during the 3rd quarter valued at approximately $113,000. Circle Wealth Management LLC purchased a new stake in Deere & Company during the 3rd quarter worth approximately $382,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Deere & Company in the 3rd quarter valued at approximately $27,961,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated 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 owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Deere & Company Stock Down 3.0 %

DE stock opened at $465.27 on Monday. The stock has a market cap of $126.28 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The firm’s 50-day simple moving average is $477.28 and its 200 day simple moving average is $440.12. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating 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, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

Analysts Set New Price Targets

A number of analysts recently issued reports on DE shares. Citigroup lifted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Oppenheimer increased their price target 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. Truist Financial reissued a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus target price of $460.00.

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.