Viawealth LLC Decreases Stock Holdings in Deere & Company (NYSE:DE)

Viawealth LLC lessened its holdings in Deere & Company (NYSE:DE) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,197 shares of the industrial products company’s stock after selling 116 shares during the quarter. Viawealth LLC’s holdings in Deere & Company were worth $931,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 60.5% during the 4th 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. Modus Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth $32,000. YANKCOM Partnership purchased a new stake in Deere & Company in the fourth quarter valued at $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company in the fourth quarter valued at $35,000. Finally, Sierra Ocean LLC purchased 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 institutional investors and hedge funds.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $479.73 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 52-week low of $340.20 and a 52-week high of $515.05. The company has a 50-day simple moving average of $470.64 and a 200-day simple moving average of $435.32. The company has a market capitalization of $130.20 billion, a PE ratio of 21.26, a P/E/G ratio of 2.14 and a beta of 1.01.

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

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DE. Truist Financial reissued a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Barclays increased their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Argus set a $510.00 target price on shares of Deere & Company in a report on Friday, March 7th. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Evercore ISI lifted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.