Securian Asset Management Inc. Lowers Position in Deere & Company (NYSE:DE)

Securian Asset Management Inc. lessened its stake in Deere & Company (NYSE:DE - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,963 shares of the industrial products company's stock after selling 2,556 shares during the period. Securian Asset Management Inc.'s holdings in Deere & Company were worth $6,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. grew its holdings in shares of Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company's stock worth $2,141,000 after purchasing an additional 939 shares during the period. Penserra Capital Management LLC raised its stake in Deere & Company by 2.4% in the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company's stock valued at $89,322,000 after buying an additional 5,485 shares in the last quarter. Summit Asset Management LLC raised its position in shares of Deere & Company by 24.1% during the 4th quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company's stock worth $412,000 after acquiring an additional 200 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Deere & Company by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company's stock valued at $628,105,000 after purchasing an additional 31,074 shares in the last quarter. Finally, Centric Wealth Management purchased a new position in Deere & Company in the third quarter valued at approximately $2,640,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Up 0.7 %

NYSE:DE traded up $2.59 during trading hours on Friday, reaching $397.02. 1,612,076 shares of the stock were exchanged, compared to its average volume of 1,385,556. The stock has a market cap of $110.51 billion, a PE ratio of 11.95, a PEG ratio of 1.48 and a beta of 1.04. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The firm has a 50 day moving average of $399.20 and a 200 day moving average of $386.20. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.81.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts' consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm's revenue for the quarter was down 15.4% on a year-over-year basis. During the same period in the previous year, the company earned $9.65 earnings per share. On average, equities analysts expect that Deere & Company will post 27.39 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th were given a $1.47 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.48%. Deere & Company's payout ratio is presently 17.70%.

Analysts Set New Price Targets

DE has been the subject of several research analyst reports. Evercore ISI raised their price objective on Deere & Company from $381.00 to $387.00 and gave the company an "in-line" rating in a research note on Tuesday, February 20th. Truist Financial initiated coverage on Deere & Company in a research note on Thursday, March 14th. They issued a "buy" rating and a $494.00 target price for the company. Stifel Nicolaus lifted their price target on shares of Deere & Company from $425.00 to $450.00 and gave the company a "buy" rating in a report on Friday. Wells Fargo & Company dropped their target price on shares of Deere & Company from $445.00 to $425.00 and set an "overweight" rating for the company in a research report on Friday, February 16th. Finally, TD Cowen lifted their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a "hold" rating in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $435.78.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.