Elo Mutual Pension Insurance Co Sells 1,160 Shares of Deere & Company (NYSE:DE)

Elo Mutual Pension Insurance Co cut its stake in shares of Deere & Company (NYSE:DE) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,720 shares of the industrial products company’s stock after selling 1,160 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Deere & Company were worth $10,050,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of DE. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Deere & Company by 9.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 409,105 shares of the industrial products company’s stock valued at $172,732,000 after buying an additional 35,074 shares during the period. Excalibur Management Corp raised its stake in shares of Deere & Company by 2.2% during the 4th quarter. Excalibur Management Corp now owns 2,314 shares of the industrial products company’s stock worth $980,000 after acquiring an additional 49 shares in the last quarter. Ausdal Financial Partners Inc. boosted its stake in Deere & Company by 0.8% in the fourth quarter. Ausdal Financial Partners Inc. now owns 8,961 shares of the industrial products company’s stock valued at $3,797,000 after acquiring an additional 68 shares in the last quarter. Morey & Quinn Wealth Partners LLC purchased a new position in Deere & Company in the fourth quarter worth $1,033,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Deere & Company during the fourth quarter worth $878,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $483.48 on Thursday. The company’s 50-day moving average is $476.30 and its two-hundred day moving average is $438.57. The firm has a market capitalization of $131.22 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05.

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, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Wall Street Analyst Weigh In

A number of research firms have commented on DE. JPMorgan Chase & Co. increased their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Argus set a $510.00 target price on shares of Deere & Company in a research note on Friday, March 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. Evercore ISI boosted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, Truist Financial restated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $460.00.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s 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 sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

Deere & Company 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.