NewEdge Wealth LLC Sells 4,592 Shares of Deere & Company (NYSE:DE)

NewEdge Wealth LLC lowered its holdings in Deere & Company (NYSE:DE) by 39.3% in the 4th quarter, HoldingsChannel reports. The firm owned 7,100 shares of the industrial products company’s stock after selling 4,592 shares during the quarter. NewEdge Wealth LLC’s holdings in Deere & Company were worth $3,008,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DE. Everence Capital Management Inc. raised its stake in shares of Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after acquiring an additional 7,300 shares in the last quarter. Stockbridge Partners LLC raised its stake in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Deere & Company during the 4th quarter worth approximately $254,000. Toronto Dominion Bank raised 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 in the last quarter. Finally, Chase Investment Counsel Corp raised its stake in shares of Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.1 %

DE stock opened at $480.25 on Friday. The firm’s fifty day simple moving average is $456.95 and its 200-day simple moving average is $425.63. The company has a market capitalization of $130.80 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Wall Street Analyst Weigh In

Several research firms recently commented on DE. StockNews.com lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday. Truist Financial restated a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Citigroup upped their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Finally, Oppenheimer upped 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $454.65.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the 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 sale, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

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.