Maryland State Retirement & Pension System Lowers Stake in Deere & Company (NYSE:DE)

Maryland State Retirement & Pension System decreased its position in Deere & Company (NYSE:DE) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,578 shares of the industrial products company’s stock after selling 1,002 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Deere & Company were worth $5,753,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC acquired a new position in Deere & Company in the 4th quarter valued at about $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter worth about $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth about $35,000. Finally, Continuum Advisory LLC lifted its position in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s 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 owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DE shares. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Argus set a $510.00 price objective on Deere & Company in a research report on Friday, March 7th. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Truist Financial restated a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. One investment 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. Based on data from MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $460.00.

Deere & Company Stock Performance

Shares of DE stock opened at $479.73 on Thursday. The stock’s 50-day moving average is $470.64 and its two-hundred day moving average is $435.32. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The firm has a market cap of $130.20 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Deere & Company 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.