Sei Investments Co. Sells 5,915 Shares of Deere & Company (NYSE:DE)

Sei Investments Co. reduced its stake in Deere & Company (NYSE:DE) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,145 shares of the industrial products company’s stock after selling 5,915 shares during the period. Sei Investments Co. owned about 0.06% of Deere & Company worth $68,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after purchasing an additional 31,459 shares during the period. FMR LLC grew its stake in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Deere & Company by 8.1% in the fourth 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 raised its position in Deere & Company by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after purchasing an additional 107,544 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 1.1 %

DE opened at $471.90 on Monday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a market capitalization of $128.08 billion, a PE ratio of 20.92, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company’s 50-day moving average is $473.25 and its 200 day moving average is $436.88.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Truist Financial reiterated 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. Evercore ISI lifted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, Citigroup upped their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $460.00.

Insiders Place Their Bets

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

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.