Lowe Brockenbrough & Co. Inc. Sells 61 Shares of Deere & Company (NYSE:DE)

Lowe Brockenbrough & Co. Inc. cut its position in Deere & Company (NYSE:DE) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,185 shares of the industrial products company’s stock after selling 61 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Deere & Company were worth $1,355,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company during the fourth quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $44,000. 68.58% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Deere & Company Trading Down 1.1 %

Deere & Company stock opened at $471.90 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The firm has a market cap of $128.08 billion, a PE ratio of 20.92, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The stock’s 50 day simple moving average is $473.25 and its two-hundred day simple moving average is $436.21.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) 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%. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.37%. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Truist Financial restated a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Oppenheimer upped their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Evercore ISI upped their target price on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $460.00.

Deere & 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.