Lowe Brockenbrough & Co. Inc. Sells 61 Shares of Deere & Company (NYSE:DE)

Lowe Brockenbrough & Co. Inc. decreased its position in shares of Deere & Company (NYSE:DE) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,185 shares of the industrial products company’s stock after selling 61 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Deere & Company were worth $1,355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DE. First Horizon Advisors Inc. raised its position in shares of Deere & Company by 4.1% during the third quarter. First Horizon Advisors Inc. now owns 3,344 shares of the industrial products company’s stock valued at $1,396,000 after buying an additional 131 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Deere & Company during the third quarter valued at approximately $47,000. King Luther Capital Management Corp raised its position in shares of Deere & Company by 11.9% during the third quarter. King Luther Capital Management Corp now owns 3,032 shares of the industrial products company’s stock valued at $1,265,000 after buying an additional 322 shares during the last quarter. Cypress Capital Group raised its position in shares of Deere & Company by 36.2% during the third quarter. Cypress Capital Group now owns 2,666 shares of the industrial products company’s stock valued at $1,113,000 after buying an additional 708 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of Deere & Company by 435.2% during the third quarter. Thompson Siegel & Walmsley LLC now owns 15,108 shares of the industrial products company’s stock valued at $6,305,000 after buying an additional 12,285 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

DE has been the topic of several recent analyst reports. Truist Financial reiterated a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Evercore ISI boosted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, Robert W. Baird restated a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a research 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. 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 Down 1.1 %

Shares of DE opened at $471.90 on Friday. The firm has a market capitalization of $128.08 billion, a P/E ratio of 20.92, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The firm has a fifty day moving average price of $473.25 and a 200-day moving average price of $436.21.

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

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 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.