BNP Paribas trimmed its holdings in Deere & Company (NYSE:DE - Free Report) by 83.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,037 shares of the industrial products company's stock after selling 59,998 shares during the period. BNP Paribas' holdings in Deere & Company were worth $5,103,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Pineridge Advisors LLC grew its stake in 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 purchasing an additional 26 shares during the period. Modus Advisors LLC bought a new position in Deere & Company in the 4th quarter worth about $32,000. YANKCOM Partnership purchased a new position in Deere & Company during the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company in the fourth quarter worth $35,000. Finally, Sierra Ocean LLC bought a new position in Deere & Company in the 4th quarter worth about $44,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently weighed in on DE shares. Evercore ISI raised their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Robert W. Baird restated a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. 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 report on Friday, February 14th. Morgan Stanley lifted their target price on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Finally, StockNews.com cut Deere & Company from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. One 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 stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of "Hold" and a consensus price target of $460.21.
Read Our Latest Research Report on Deere & Company
Deere & Company Stock Performance
DE traded down $3.19 during midday trading on Wednesday, reaching $472.11. The company had a trading volume of 1,011,246 shares, compared to its average volume of 1,414,604. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The business has a 50-day moving average of $464.78 and a two-hundred day moving average of $449.60. The company has a market cap of $128.14 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.14 and a beta of 1.08.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 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%. As a group, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued 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 yield of 1.37%. Deere & Company's payout ratio is 28.72%.
Insiders Place Their Bets
In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 74,878 shares of the company's stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company's stock.
Deere & Company Company Profile
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Free Report)
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.
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