Zions Bancorporation N.A. Reduces Stock Holdings in Deere & Company (NYSE:DE)

Zions Bancorporation N.A. cut its stake in shares of Deere & Company (NYSE:DE) by 23.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 203 shares of the industrial products company’s stock after selling 62 shares during the period. Zions Bancorporation N.A.’s holdings in Deere & Company were worth $86,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dai ichi Life Insurance Company Ltd increased its stake in Deere & Company by 24.8% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 15,417 shares of the industrial products company’s stock worth $6,434,000 after buying an additional 3,060 shares during the period. FMR LLC increased its position in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after acquiring an additional 988,380 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its stake in shares of Deere & Company by 88,200.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 883 shares of the industrial products company’s stock worth $369,000 after acquiring an additional 882 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Deere & Company by 26.2% in the third quarter. Townsquare Capital LLC now owns 6,354 shares of the industrial products company’s stock valued at $2,652,000 after purchasing an additional 1,319 shares during the last quarter. Finally, Insight Wealth Partners LLC acquired a new stake in Deere & Company during the 3rd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

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

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on DE. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Citigroup raised their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Truist Financial restated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $460.00.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on 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 transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.