Deere & Company (NYSE:DE) Insider Rajesh Kalathur Sells 24,580 Shares

Deere & Company (NYSE:DE) insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Deere & Company Stock Performance

Shares of DE stock opened at $509.54 on Thursday. The firm has a market cap of $138.77 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 2.96 and a beta of 0.98. 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 52 week low of $340.20 and a 52 week high of $515.05. The firm’s 50-day simple moving average is $449.95 and its two-hundred day simple moving average is $419.37.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, equities analysts forecast that Deere & Company will post 19.35 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.27%. Deere & Company’s payout ratio is currently 28.72%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Truist Financial reiterated a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. JPMorgan Chase & Co. lifted 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. Citigroup lifted their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Barclays lifted 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. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $454.65.

Institutional Trading of Deere & Company

A number of hedge funds and other institutional investors have recently bought and sold shares of DE. Pineridge Advisors LLC increased its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership bought a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Orion Capital Management LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Finally, Synergy Asset Management LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $35,000. Institutional investors own 68.58% 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.