Deere & Company (NYSE:DE) Shares Sold by Deutsche Bank AG

Deutsche Bank AG reduced its stake in Deere & Company (NYSE:DE) by 2.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 983,735 shares of the industrial products company’s stock after selling 20,625 shares during the period. Deutsche Bank AG’s holdings in Deere & Company were worth $416,809,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in Deere & Company during the 4th quarter valued at about $1,244,094,000. Castlekeep Investment Advisors LLC purchased a new stake in Deere & Company during the fourth quarter worth about $541,437,000. Price T Rowe Associates Inc. MD lifted its position in shares of Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. FMR LLC boosted its stake in shares of Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $296,232,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $490.50 on Friday. The company has a fifty day moving average of $465.12 and a two-hundred day moving average of $450.33. The company has a market capitalization of $133.13 billion, a PE ratio of 21.74, a P/E/G ratio of 2.14 and a beta of 1.08. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. 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 (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts expect 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 was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DE shares. Citigroup reduced their target price on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Truist Financial reiterated a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. UBS Group cut their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Evercore ISI lifted their price objective on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, Oppenheimer boosted their price objective on Deere & Company from $510.00 to $513.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $460.21.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

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.