Deere & Company (NYSE:DE) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co trimmed its stake in shares of Deere & Company (NYSE:DE) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 23,720 shares of the industrial products company’s stock after selling 1,160 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Deere & Company were worth $10,050,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the 4th quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $35,000. Finally, Continuum Advisory LLC increased its holdings in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DE. Truist Financial reissued a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Evercore ISI lifted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Citigroup raised their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Finally, Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $460.00.

Insider Activity 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 completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Deere & Company Stock Up 0.9 %

Deere & Company stock opened at $483.48 on Thursday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a market capitalization of $131.22 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The stock’s fifty day moving average is $476.30 and its two-hundred day moving average is $438.57. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.34%. Deere & Company’s dividend payout ratio is currently 28.72%.

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.