Cetera Investment Advisers Trims Position in Deere & Company (NYSE:DE)

Cetera Investment Advisers cut its holdings in Deere & Company (NYSE:DE - Free Report) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,002 shares of the industrial products company's stock after selling 3,061 shares during the quarter. Cetera Investment Advisers' holdings in Deere & Company were worth $48,726,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Compass Financial Services Inc bought a new position in shares of Deere & Company during the 4th quarter worth approximately $254,000. Czech National Bank grew its holdings in Deere & Company by 5.7% in the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock worth $23,376,000 after purchasing an additional 2,964 shares during the period. Banque Pictet & Cie SA increased its stake in Deere & Company by 2.0% in the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock valued at $33,165,000 after purchasing an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC boosted its position in shares of Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock worth $21,021,000 after purchasing an additional 1,407 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in Deere & Company in the 4th quarter valued at about $847,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DE. JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Truist Financial reiterated a "buy" rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Robert W. Baird reissued a "neutral" rating and issued a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Oppenheimer raised their price objective on Deere & Company from $510.00 to $513.00 and gave the company an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Argus set a $510.00 target price on shares of Deere & Company in a research note 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $460.21.

Insider Activity

In other 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 completion of the sale, the insider now owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company's stock.

Deere & Company Price Performance

DE stock traded up $2.34 during mid-day trading on Friday, reaching $492.33. 653,526 shares of the company traded hands, compared to its average volume of 1,416,952. The company has a fifty day moving average price of $465.80 and a 200-day moving average price of $450.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a market capitalization of $133.63 billion, a P/E ratio of 21.82, a P/E/G ratio of 2.14 and a beta of 1.08. 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 - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company's payout ratio is currently 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.