Amalgamated Bank Has $20.59 Million Stake in Deere & Company (NYSE:DE)

Amalgamated Bank cut its stake in shares of Deere & Company (NYSE:DE) by 4.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 48,590 shares of the industrial products company’s stock after selling 2,003 shares during the quarter. Amalgamated Bank’s holdings in Deere & Company were worth $20,588,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. increased its stake in Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Stockbridge Partners LLC boosted its holdings in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares during the last quarter. Compass Financial Services Inc purchased a new position in Deere & Company in the fourth quarter valued at approximately $254,000. Toronto Dominion Bank grew its stake in shares of Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after acquiring an additional 1,291 shares during the period. Finally, Chase Investment Counsel Corp increased its stake in shares of Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $484.24 on Tuesday. 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 fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a 50-day simple moving average of $452.99 and a 200-day simple moving average of $422.92. The company has a market capitalization of $131.88 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued 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 net margin of 12.94% and a return on equity of 27.31%. On average, equities research analysts anticipate that Deere & Company will post 19.32 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. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research 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 research note on Monday, February 10th. StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Citigroup lifted their target price on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Evercore ISI lifted their target price on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, Truist Financial reissued a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $454.65.

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.