TCW Group Inc. Sells 8,836 Shares of Deere & Company (NYSE:DE)

TCW Group Inc. reduced its stake in Deere & Company (NYSE:DE) by 17.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,438 shares of the industrial products company’s stock after selling 8,836 shares during the period. TCW Group Inc.’s holdings in Deere & Company were worth $17,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Robertson Stephens Wealth Management LLC boosted its stake in shares of Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after buying an additional 22 shares during the period. DLK Investment Management LLC boosted its stake in shares of Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after buying an additional 24 shares during the period. Quent Capital LLC lifted its stake in Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 24 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares during the last quarter. Finally, Carret Asset Management LLC lifted its stake in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after purchasing an additional 25 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $489.98 on Friday. The company has a market capitalization of $133.45 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.14 and a beta of 0.98. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The stock has a fifty day simple moving average of $452.07 and a 200 day simple moving average of $421.43. 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 posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.32%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

Analysts Set New Price Targets

Several research firms have weighed in on DE. 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 note on Friday, February 14th. Morgan Stanley upped their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Oppenheimer upped their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $454.65.

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 on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now owns 74,878 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

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.