Deere & Company (NYSE:DE) Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC reduced its position in shares of Deere & Company (NYSE:DE) by 11.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 554 shares of the industrial products company’s stock after selling 70 shares during the quarter. Simplicity Wealth LLC’s holdings in Deere & Company were worth $235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership acquired a new stake in Deere & Company during the 4th quarter worth about $34,000. Synergy Asset Management LLC acquired a new stake in Deere & Company during the 4th quarter worth about $35,000. Finally, Sierra Ocean LLC acquired a new stake in Deere & Company during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 2.7 %

Shares of DE stock opened at $475.70 on Wednesday. The stock’s 50 day simple moving average is $463.53 and its 200 day simple moving average is $431.66. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a market capitalization of $129.11 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DE. JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Argus set a $510.00 price objective on Deere & Company in a research report on Friday. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Finally, Truist Financial restated a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $460.00.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred on 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 transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

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.