AIA Group Ltd Lowers Stock Holdings in Deere & Company (NYSE:DE)

AIA Group Ltd lowered its holdings in Deere & Company (NYSE:DE) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,043 shares of the industrial products company’s stock after selling 8,516 shares during the period. Deere & Company makes up about 1.9% of AIA Group Ltd’s holdings, making the stock its 8th biggest position. AIA Group Ltd owned about 0.07% of Deere & Company worth $80,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DE. Pineridge Advisors LLC lifted its stake 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 purchasing an additional 26 shares during the last quarter. Modus Advisors LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership bought a new stake in Deere & Company in the 4th quarter worth $34,000. Synergy Asset Management LLC bought a new position in Deere & Company during the 4th quarter valued at approximately $35,000. Finally, Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Argus set a $510.00 price target on Deere & Company in a research note on Friday, March 7th. Evercore ISI increased their price target 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. Robert W. Baird restated a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. Truist Financial reiterated a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. upped 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. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $460.00.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $465.27 on Monday. The business has a 50-day simple moving average of $477.28 and a two-hundred day simple moving average of $440.12. 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 has a 52 week low of $340.20 and a 52 week high of $515.05. The stock has a market cap of $126.28 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating 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%. On average, analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. Deere & Company’s payout ratio is 28.72%.

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.