Deere & Company (NYSE:DE) Shares Sold by Associated Banc Corp

Associated Banc Corp lowered its stake in shares of Deere & Company (NYSE:DE) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,299 shares of the industrial products company’s stock after selling 37 shares during the quarter. Associated Banc Corp’s holdings in Deere & Company were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pineridge Advisors LLC increased its holdings in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company in the 4th quarter valued at $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $35,000. Finally, Continuum Advisory LLC increased its holdings in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm’s 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 directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Argus set a $510.00 target price on shares of Deere & Company in a report on Friday, March 7th. Citigroup boosted their price objective 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. Truist Financial reissued a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Evercore ISI boosted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $460.00.

Deere & Company Stock Performance

Shares of DE opened at $478.67 on Friday. The company has a market capitalization of $129.92 billion, a PE ratio of 21.22, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a 50-day simple moving average of $466.59 and a 200-day simple moving average of $433.24. 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 issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 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%. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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