Blueshift Asset Management LLC Sells 1,979 Shares of Deere & Company (NYSE:DE)

Blueshift Asset Management LLC cut its holdings in Deere & Company (NYSE:DEFree Report) by 62.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,175 shares of the industrial products company’s stock after selling 1,979 shares during the quarter. Blueshift Asset Management LLC’s holdings in Deere & Company were worth $470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in Deere & Company during the 4th quarter valued at $1,248,036,000. International Assets Investment Management LLC raised its stake in Deere & Company by 46,241.1% during the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after buying an additional 838,813 shares during the last quarter. Parnassus Investments LLC raised its stake in Deere & Company by 22.4% during 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 buying an additional 705,771 shares during the last quarter. FMR LLC raised its stake in Deere & Company by 6.6% during the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after buying an additional 269,571 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Deere & Company by 11.2% during 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 buying an additional 160,369 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $1.25 on Tuesday, hitting $369.37. 1,316,191 shares of the company were exchanged, compared to its average volume of 1,480,518. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00. The stock’s 50 day moving average price is $396.27 and its 200 day moving average price is $386.34. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $101.79 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.50 and a beta of 0.98.

Deere & Company (NYSE:DEGet Free Report) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.65 earnings per share. Sell-side analysts predict that Deere & Company will post 25.75 EPS for the current year.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Stifel Nicolaus upped their price objective on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company reduced their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Oppenheimer reiterated an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. Finally, TD Cowen increased their price target on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $432.92.

View Our Latest Report on DE

About Deere & Company

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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