Diamond Hill Capital Management Inc. Has $317.49 Million Stock Holdings in Deere & Company (NYSE:DE)

Diamond Hill Capital Management Inc. cut its stake in Deere & Company (NYSE:DE) by 12.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 749,329 shares of the industrial products company’s stock after selling 110,838 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.28% of Deere & Company worth $317,491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Everence Capital Management Inc. grew its position in Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after acquiring an additional 7,300 shares during the last quarter. Stockbridge Partners LLC boosted its position in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares in the last quarter. Compass Financial Services Inc bought a new stake in shares of Deere & Company during the 4th quarter valued at about $254,000. Toronto Dominion Bank raised 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. Finally, Czech National Bank raised its stake in Deere & Company by 5.7% during 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 during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred on 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 sale, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Morgan Stanley raised their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $460.00.

Deere & Company Trading Down 1.0 %

NYSE DE opened at $466.64 on Friday. The company has a market capitalization of $126.65 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.14 and a beta of 1.01. The stock’s 50-day simple moving average is $465.46 and its two-hundred day simple moving average is $432.18. 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 twelve month low of $340.20 and a twelve month high of $515.05.

Deere & Company (NYSE:DE) last released 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%. Research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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