State of Tennessee Department of Treasury Trims Stock Position in Deere & Company (NYSE:DE)

State of Tennessee Department of Treasury cut its stake in Deere & Company (NYSE:DE - Free Report) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,216 shares of the industrial products company's stock after selling 5,849 shares during the period. State of Tennessee Department of Treasury's holdings in Deere & Company were worth $33,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Robertson Stephens Wealth Management LLC boosted its stake in Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock worth $426,000 after acquiring an additional 22 shares in the last quarter. DLK Investment Management LLC increased its stake in Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock valued at $3,479,000 after purchasing an additional 24 shares in the last quarter. Quent Capital LLC increased its stake in Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock valued at $3,398,000 after purchasing an additional 24 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its stake in Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company's stock valued at $236,000 after purchasing an additional 25 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DE shares. Robert W. Baird reaffirmed a "neutral" rating and issued a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Truist Financial reaffirmed a "buy" rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Citigroup decreased their price target on shares of Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Evercore ISI boosted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Finally, UBS Group decreased their target price on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and an average price target of $460.21.

Deere & Company Price Performance

DE stock traded down $5.59 during mid-day trading on Friday, hitting $458.92. 983,357 shares of the stock were exchanged, compared to its average volume of 1,423,235. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The business has a fifty day moving average price of $467.21 and a 200 day moving average price of $446.72. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The stock has a market capitalization of $124.56 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 2.14 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results 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 anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders 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 dividend yield of 1.41%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.

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. 0.29% of the stock is currently owned by corporate insiders.

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.