Penobscot Investment Management Company Inc. Sells 203 Shares of Deere & Company (NYSE:DE)

Penobscot Investment Management Company Inc. reduced its stake in shares of Deere & Company (NYSE:DE) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,115 shares of the industrial products company’s stock after selling 203 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Deere & Company were worth $5,557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Pineridge Advisors LLC grew its position 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 purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $32,000. YANKCOM Partnership bought a new stake in Deere & Company during the fourth quarter worth $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the fourth quarter worth $35,000. Finally, Sierra Ocean LLC bought a new position in Deere & Company in the 4th quarter valued at $44,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by company insiders.

Deere & Company Stock Down 0.1 %

Shares of NYSE:DE opened at $479.70 on Wednesday. The firm has a fifty day moving average price of $475.21 and a two-hundred day moving average price of $438.25. The company 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. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a one year low of $340.20 and a one year high of $515.05.

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

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued 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 28.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Argus set a $510.00 target price on Deere & Company in a research note on Friday, March 7th. Oppenheimer lifted their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial reissued a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Citigroup increased their price objective on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $460.00.

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.