Bridges Investment Management Inc. Sells 75 Shares of Deere & Company (NYSE:DE)

Bridges Investment Management Inc. lessened its position in Deere & Company (NYSE:DE) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,261 shares of the industrial products company’s stock after selling 75 shares during the period. Bridges Investment Management Inc.’s holdings in Deere & Company were worth $3,500,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Pineridge Advisors LLC increased its holdings in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC bought a new stake in shares of Deere & Company in the fourth quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’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 completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DE. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Evercore ISI increased their target price on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, Truist Financial restated a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $454.65.

Deere & Company Trading Down 0.1 %

Shares of DE stock opened at $480.25 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The stock has a fifty day simple moving average of $456.95 and a two-hundred day simple moving average of $426.15. The firm has a market capitalization of $130.80 billion, a PE ratio of 21.29, a PEG ratio of 2.14 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05.

Deere & Company (NYSE:DE) last released its earnings results 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, analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business 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 dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

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.