Deere & Company (NYSE:DE) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC cut its stake in shares of Deere & Company (NYSE:DE) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,483 shares of the industrial products company’s stock after selling 27 shares during the quarter. Larson Financial Group LLC’s holdings in Deere & Company were worth $1,052,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares during the period. Geode Capital Management LLC lifted its holdings in Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after acquiring an additional 31,459 shares during the period. FMR LLC lifted its holdings in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the period. Fisher Asset Management LLC lifted its holdings in Deere & Company by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after acquiring an additional 160,956 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock valued at $874,473,000 after acquiring an additional 107,544 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on DE shares. Robert W. Baird reissued a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Evercore ISI raised 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. Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. 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 research note on Friday, December 6th. Finally, Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $457.22.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.29% of the stock is owned by company insiders.

Deere & Company Stock Up 3.5 %

DE opened at $499.73 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock has a market capitalization of $135.63 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The business has a 50-day moving average of $461.21 and a two-hundred day moving average of $429.83. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 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.