Royal London Asset Management Ltd. Cuts Stock Position in Deere & Company (NYSE:DE)

Royal London Asset Management Ltd. cut its holdings in shares of Deere & Company (NYSE:DE) by 0.3% during the fourth quarter, Holdings Channel reports. The firm owned 141,583 shares of the industrial products company’s stock after selling 438 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Deere & Company were worth $59,989,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pineridge Advisors LLC grew its position in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company during the fourth quarter worth about $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $44,000. 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 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

Deere & Company Price Performance

Deere & Company stock opened at $477.03 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. 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 business has a 50 day simple moving average of $471.98 and a 200-day simple moving average of $435.61. The stock has a market capitalization of $129.47 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last released its quarterly earnings results 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 return on equity of 27.31% and a net margin of 12.94%. Equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders 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 dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DE shares. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped 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 reaffirmed a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Barclays upped 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. One research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.