Deere & Company (NYSE:DE) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of Deere & Company (NYSE:DE) by 87.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,482 shares of the industrial products company’s stock after selling 51,045 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Deere & Company were worth $3,170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after purchasing an additional 31,459 shares during the last quarter. FMR LLC lifted its holdings in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Deere & Company by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after purchasing an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Deere & Company by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after buying an additional 107,544 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s 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 $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DE. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Evercore ISI increased their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Truist Financial reiterated a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Oppenheimer increased their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $460.00.

Deere & Company Trading Down 0.3 %

Shares of DE stock opened at $479.73 on Thursday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The stock has a market cap of $130.20 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.14 and a beta of 1.01. The business has a fifty day simple moving average of $470.64 and a 200-day simple moving average of $435.32. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

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

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

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.