Deere & Company (NYSE:DE) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in Deere & Company (NYSE:DE) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 499,749 shares of the industrial products company’s stock after selling 9,946 shares during the quarter. Rhumbline Advisers owned 0.18% of Deere & Company worth $211,744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% in 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 during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 3rd quarter worth $32,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $35,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 3.0 %

Shares of Deere & Company stock opened at $480.17 on Friday. The firm has a market cap of $130.77 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 2.87 and a beta of 0.98. The stock has a 50-day simple moving average of $446.23 and a 200-day simple moving average of $415.49. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. On average, equities research analysts expect that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a $1.62 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. Deere & Company’s dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Citigroup boosted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Barclays lifted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial reissued a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $448.72.

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.