Ceredex Value Advisors LLC Trims Holdings in Deere & Company (NYSE:DE)

Ceredex Value Advisors LLC lowered its holdings in Deere & Company (NYSE:DE) by 31.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 104,187 shares of the industrial products company’s stock after selling 48,430 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Deere & Company were worth $44,144,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DE. FMR LLC raised its stake in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after buying an additional 1,039,395 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after acquiring an additional 97,203 shares in the last quarter. Norges Bank purchased a new position in shares of Deere & Company in the 4th quarter valued at approximately $1,244,094,000. Fisher Asset Management LLC lifted its stake in shares of Deere & Company by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after purchasing an additional 160,956 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Deere & Company by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock valued at $874,473,000 after purchasing an additional 107,544 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of NYSE DE opened at $461.31 on Wednesday. The firm’s 50-day moving average price is $470.85 and its 200-day moving average price is $443.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a market cap of $125.21 billion, a PE ratio of 20.45, a PEG ratio of 2.14 and a beta of 1.00. 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 (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DE shares. Robert W. Baird reissued a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Citigroup cut their price objective on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. UBS Group decreased their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Finally, Truist Financial reissued a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. 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 company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $457.26.

About Deere & Company

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.