Deere & Company (NYSE:DE) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd decreased its stake in Deere & Company (NYSE:DE) by 87.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,482 shares of the industrial products company’s stock after selling 51,045 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Deere & Company were worth $3,170,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DE. West Family Investments Inc. grew its holdings in shares of Deere & Company by 16.5% during the third quarter. West Family Investments Inc. now owns 771 shares of the industrial products company’s stock worth $322,000 after buying an additional 109 shares in the last quarter. Premier Fund Managers Ltd grew its holdings in shares of Deere & Company by 5.8% during the third quarter. Premier Fund Managers Ltd now owns 30,899 shares of the industrial products company’s stock worth $12,918,000 after buying an additional 1,693 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Deere & Company in the 3rd quarter worth $5,120,000. MWA Asset Management increased its stake in shares of Deere & Company by 1.6% in the 3rd quarter. MWA Asset Management now owns 8,209 shares of the industrial products company’s stock worth $3,426,000 after acquiring an additional 127 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Deere & Company by 4.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,344 shares of the industrial products company’s stock worth $1,396,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $479.73 on Thursday. The company has a fifty day simple moving average of $470.64 and a two-hundred day simple moving average of $435.32. The company has a market cap of $130.20 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. 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 52 week low of $340.20 and a 52 week high of $515.05.

Deere & Company (NYSE:DE) last posted 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 net margin of 12.94% and a return on equity of 27.31%. As a group, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. 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 Deere & Company stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.