Beacon Pointe Advisors LLC Decreases Stock Holdings in Deere & Company (NYSE:DE)

Beacon Pointe Advisors LLC cut its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,983 shares of the industrial products company's stock after selling 2,101 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Deere & Company were worth $7,619,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Capital World Investors lifted its position in shares of Deere & Company by 2.7% in the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after buying an additional 157,224 shares in the last quarter. FMR LLC boosted its stake in Deere & Company by 22.9% during 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 buying an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC grew its holdings in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after buying an additional 97,203 shares in the last quarter. Finally, Norges Bank bought a new stake in Deere & Company in the 4th quarter worth approximately $1,244,094,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.3 %

Shares of Deere & Company stock traded up $1.38 on Friday, hitting $481.40. 1,108,782 shares of the company traded hands, compared to its average volume of 1,417,396. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a market cap of $130.66 billion, a PE ratio of 21.34, a PEG ratio of 2.14 and a beta of 1.00. The stock's 50 day moving average price is $464.80 and its 200-day moving average price is $448.90. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. Equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Robert W. Baird restated a "neutral" rating and set a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. Morgan Stanley boosted their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Truist Financial reaffirmed a "buy" rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Argus set a $510.00 target price on Deere & Company in a research report on Friday, March 7th. One research 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. According to MarketBeat, Deere & Company presently has an average rating of "Hold" and an average target price of $460.21.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 74,878 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company's stock.

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.