KCM Investment Advisors LLC Decreases Stock Holdings in Deere & Company (NYSE:DE)

KCM Investment Advisors LLC lessened its holdings in Deere & Company (NYSE:DE) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,463 shares of the industrial products company’s stock after selling 169 shares during the period. KCM Investment Advisors LLC’s holdings in Deere & Company were worth $4,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Everence Capital Management Inc. grew its position in Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after acquiring an additional 7,300 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Deere & Company during the 4th quarter valued at $254,000. Toronto Dominion Bank increased its stake in Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after buying an additional 1,291 shares during the period. Czech National Bank lifted its holdings in Deere & Company by 5.7% in the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after buying an additional 2,964 shares in the last quarter. Finally, Banque Pictet & Cie SA boosted its position in Deere & Company by 2.0% in the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock valued at $33,165,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 3.8 %

Shares of NYSE:DE opened at $430.25 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company has a market cap of $116.78 billion, a PE ratio of 19.07, a P/E/G ratio of 2.14 and a beta of 1.01. The company’s 50-day moving average price is $476.55 and its 200 day moving average price is $441.78.

Deere & Company (NYSE:DE) last issued 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%. Sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Wall Street Analyst Weigh In

Several research firms recently commented on DE. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Oppenheimer upped their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Robert W. Baird reissued a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. Finally, 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. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $460.00.

Insider Activity at Deere & Company

In related 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 transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

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.