Deere & Company (NYSE:DE) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of Deere & Company (NYSE:DE) by 4.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 36,277 shares of the industrial products company’s stock after selling 1,854 shares during the period. Mutual of America Capital Management LLC’s holdings in Deere & Company were worth $15,371,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DE. Pineridge Advisors LLC raised its position in Deere & Company by 60.5% during the fourth 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 acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $35,000. Finally, Continuum Advisory LLC raised its position in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DE shares. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Evercore ISI increased their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Oppenheimer increased their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. UBS Group increased their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Truist Financial reiterated a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $454.65.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

Deere & Company Trading Down 0.1 %

Shares of DE stock opened at $480.25 on Friday. 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 firm has a market cap of $130.80 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The company has a 50-day moving average of $456.95 and a two-hundred day moving average of $425.63. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05.

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

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Deere & Company 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.