Korea Investment CORP Sells 7,151 Shares of Deere & Company (NYSE:DE)

Korea Investment CORP cut its holdings in shares of Deere & Company (NYSE:DE) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,259 shares of the industrial products company’s stock after selling 7,151 shares during the quarter. Korea Investment CORP owned 0.07% of Deere & Company worth $82,308,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pineridge Advisors LLC grew its position in 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 bought a new position in shares of Deere & Company in the fourth quarter worth $32,000. YANKCOM Partnership acquired a new position in Deere & Company in the fourth quarter valued at about $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company during the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC bought a new stake in Deere & Company during the fourth quarter worth about $44,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $483.48 on Thursday. The stock has a market capitalization of $131.22 billion, a PE ratio of 21.43, a PEG ratio of 2.14 and a beta of 1.01. The business’s 50 day simple moving average is $476.30 and its 200 day simple moving average is $438.57. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a one year low of $340.20 and a one year high of $515.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings results 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%. As a group, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.34%. Deere & Company’s payout ratio is currently 28.72%.

Analyst Ratings Changes

Several equities analysts have recently commented on DE shares. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Argus set a $510.00 price objective on shares of Deere & Company in a research report on Friday, March 7th. Oppenheimer upped their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Finally, Truist Financial restated a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $460.00.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on 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 completion of the sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

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.