Deere & Company (NYSE:DE) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. cut its holdings in shares of Deere & Company (NYSE:DE) by 23.4% in the 4th quarter, Holdings Channel reports. The firm owned 203 shares of the industrial products company’s stock after selling 62 shares during the period. Zions Bancorporation N.A.’s holdings in Deere & Company were worth $86,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DE. Wellington Management Group LLP lifted its position in shares of Deere & Company by 32.0% during 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 acquiring an additional 1,782,984 shares during the last quarter. FMR LLC lifted its holdings in shares of Deere & Company by 27.8% during the third 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. Raymond James Financial Inc. acquired a new position in shares of Deere & Company in the 4th quarter valued at $296,232,000. Stockbridge Partners LLC boosted its position 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 valued at $369,019,000 after purchasing an additional 540,874 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in Deere & Company by 52,200.3% in the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock worth $224,920,000 after purchasing an additional 529,833 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Deere & Company Trading Up 0.9 %

Deere & Company stock opened at $483.48 on Thursday. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company’s fifty day moving average price is $476.30 and its two-hundred day moving average price is $438.57. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company 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.

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, 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 Announces Dividend

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

Wall Street Analyst Weigh In

DE has been the subject of several recent analyst reports. StockNews.com cut shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Truist Financial reissued a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Argus set a $510.00 target price on Deere & Company in a research report on Friday, March 7th. Finally, Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $460.00.

Deere & 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.