Deere & Company (NYSE:DE) Shares Sold by TIAA Trust National Association

TIAA Trust National Association lessened its stake in Deere & Company (NYSE:DE) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 15,198 shares of the industrial products company’s stock after selling 264 shares during the period. TIAA Trust National Association’s holdings in Deere & Company were worth $6,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pineridge Advisors LLC increased its stake in shares of 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 acquiring an additional 26 shares during the period. Modus Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at about $32,000. YANKCOM Partnership purchased a new stake in Deere & Company in the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Deere & Company during the 4th quarter worth approximately $44,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on DE. Citigroup lifted their price target on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Truist Financial restated a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, StockNews.com lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $460.00.

Insider Activity at Deere & Company

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 stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

Deere & Company Stock Performance

NYSE:DE opened at $479.70 on Wednesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The firm has a 50 day simple moving average of $475.21 and a 200-day simple moving average of $438.25. The firm has a market cap of $130.20 billion, a PE ratio of 21.26, 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.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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 return on equity of 27.31% and a net margin of 12.94%. On average, equities analysts expect that Deere & Company will post 19.32 EPS 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 annualized dividend and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is presently 28.72%.

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.