Cypress Capital Group Sells 1,046 Shares of Deere & Company (NYSE:DE)

Cypress Capital Group lessened its holdings in Deere & Company (NYSE:DE) by 39.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,620 shares of the industrial products company’s stock after selling 1,046 shares during the period. Cypress Capital Group’s holdings in Deere & Company were worth $687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Everence Capital Management Inc. grew its position in Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after acquiring an additional 7,300 shares during the last quarter. Stockbridge Partners LLC grew its holdings in shares of Deere & Company by 157.5% during the third 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 last quarter. Compass Financial Services Inc bought a new stake in shares of Deere & Company during the fourth quarter worth about $254,000. Toronto Dominion Bank grew its holdings in shares of Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares during the last quarter. Finally, Chase Investment Counsel Corp grew its holdings in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on DE shares. Truist Financial restated a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, Citigroup upped their target price on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $457.22.

Deere & Company Price Performance

Shares of NYSE:DE opened at $468.08 on Thursday. 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 has a twelve month low of $340.20 and a twelve month high of $515.05. The stock’s 50 day moving average is $458.83 and its 200-day moving average is $428.17. The firm has a market capitalization of $127.48 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.38%. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Insider Buying and Selling

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 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 owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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.