Deere & Company (NYSE:DE) Shares Sold by National Bank of Canada FI

National Bank of Canada FI cut its holdings in shares of Deere & Company (NYSE:DE) by 25.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 132,508 shares of the industrial products company’s stock after selling 44,217 shares during the period. National Bank of Canada FI’s holdings in Deere & Company were worth $54,043,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after buying an additional 263,709 shares in the last quarter. Parnassus Investments LLC raised its holdings in shares of Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Norges Bank acquired a new stake in shares of Deere & Company in the 4th quarter valued at $1,248,036,000. Dimensional Fund Advisors LP raised its holdings in shares of Deere & Company by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after purchasing an additional 160,369 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Deere & Company by 2.0% in the 4th 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. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DE shares. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Stifel Nicolaus lifted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Truist Financial lowered their target price on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Citigroup started coverage on shares of Deere & Company in a report on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 target price on the stock. Finally, Oppenheimer reduced their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $426.71.

Deere & Company Trading Down 0.6 %

DE traded down $2.13 during trading on Wednesday, hitting $369.39. 1,246,848 shares of the company’s stock were exchanged, compared to its average volume of 1,504,146. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a 1 year low of $345.93 and a 1 year high of $450.00. The stock has a 50 day moving average price of $373.06 and a 200 day moving average price of $383.86. The firm has a market cap of $101.79 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the previous year, the firm earned $9.65 earnings per share. Deere & Company’s revenue for the quarter was down 15.4% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.59%. Deere & Company’s dividend payout ratio is currently 17.70%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Deere & 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.