CORDA Investment Management LLC. Sells 3,461 Shares of Deere & Company (NYSE:DE)

CORDA Investment Management LLC. cut its stake in shares of Deere & Company (NYSE:DE) by 3.3% during the 4th quarter, Holdings Channel reports. The fund owned 101,399 shares of the industrial products company’s stock after selling 3,461 shares during the period. Deere & Company comprises approximately 3.4% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 9th largest position. CORDA Investment Management LLC.’s holdings in Deere & Company were worth $42,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% during 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 acquired a new position in Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership acquired a new position in Deere & Company during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC bought a new position in Deere & Company in the fourth quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $44,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.5 %

NYSE DE opened at $480.69 on Friday. The business’s fifty day moving average is $456.00 and its 200-day moving average is $424.69. 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 stock has a market capitalization of $130.92 billion, a price-to-earnings ratio of 21.31, a PEG 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.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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%. Equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s payout ratio is 28.72%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DE. UBS Group upped their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Citigroup upped their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Morgan Stanley lifted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. 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, JPMorgan Chase & Co. lifted their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $454.65.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed 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.