Deere & Company (NYSE:DE) Shares Sold by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 13.0% during the 4th quarter, Holdings Channel reports. The firm owned 7,728 shares of the industrial products company’s stock after selling 1,158 shares during the period. Deere & Company makes up about 1.4% of Sustainable Insight Capital Management LLC’s holdings, making the stock its 21st biggest position. Sustainable Insight Capital Management LLC’s holdings in Deere & Company were worth $3,274,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP grew its position in Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after purchasing an additional 31,459 shares during the last quarter. FMR LLC increased its position in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares in the last quarter. Legal & General Group Plc increased its position in Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Deere & Company by 8.6% in the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after buying an additional 158,732 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley increased their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial boosted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Oppenheimer raised their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $442.83.

Deere & Company Trading Up 3.4 %

Shares of DE stock opened at $475.22 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a fifty day moving average of $435.34 and a 200-day moving average of $404.30. Deere & Company has a 52-week low of $340.20 and a 52-week high of $475.92. The stock has a market cap of $129.43 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 2.86 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the business earned $8.26 earnings per share. The company’s quarterly revenue was down 32.8% on a year-over-year basis. On average, equities research analysts forecast that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.36%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is currently 25.31%.

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.