Deere & Company (NYSE:DE) Shares Sold by Cladis Investment Advisory LLC

Cladis Investment Advisory LLC lowered its stake in Deere & Company (NYSE:DE - Free Report) by 68.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 500 shares of the industrial products company's stock after selling 1,089 shares during the quarter. Cladis Investment Advisory LLC's holdings in Deere & Company were worth $212,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 19.9% during the 4th 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 acquiring an additional 1,095,736 shares during the period. Capital World Investors raised its holdings in shares of Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after acquiring an additional 157,224 shares during the period. FMR LLC raised its holdings in shares of Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 worth $2,247,216,000 after acquiring an additional 97,203 shares during the period. Finally, Norges Bank purchased a new position in shares of Deere & Company during the 4th quarter worth $1,244,094,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of NYSE DE traded up $2.46 during mid-day trading on Monday, hitting $495.06. 1,597,049 shares of the company were exchanged, compared to its average volume of 1,417,633. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The stock has a 50 day simple moving average of $465.80 and a 200-day simple moving average of $451.49. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The firm has a market cap of $134.37 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts forecast 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 was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.31%. The ex-dividend date was Monday, March 31st. Deere & Company's payout ratio is 28.72%.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated Tuesday, February 18th. The stock was 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 trade represents a 24.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on DE shares. StockNews.com lowered Deere & Company from a "hold" rating to a "sell" rating in a report on Sunday, April 6th. Robert W. Baird restated a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday, March 7th. Oppenheimer boosted their price objective on shares of Deere & Company from $510.00 to $513.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Finally, Truist Financial restated a "buy" rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of "Hold" and an average target price of $460.21.

About Deere & Company

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.