Deere & Company (NYSE:DE) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Deere & Company (NYSE:DE) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,167 shares of the industrial products company’s stock after selling 20,623 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Deere & Company were worth $44,983,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Pineridge Advisors LLC increased 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 purchasing an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new position in Deere & Company during the fourth quarter worth approximately $32,000. YANKCOM Partnership acquired a new position in Deere & Company during the fourth quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the fourth quarter worth approximately $35,000. Finally, Continuum Advisory LLC increased its position in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DE. Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday. Citigroup boosted their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Finally, StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $460.00.

Deere & Company Stock Performance

Deere & Company stock opened at $488.69 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The company has a market cap of $132.64 billion, a PE ratio of 21.66, a PEG ratio of 2.14 and a beta of 1.01. The company’s 50-day moving average is $462.49 and its two-hundred day moving average is $430.99.

Deere & Company (NYSE:DE) last announced its quarterly earnings results 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 net margin of 12.94% and a return on equity of 27.31%. Equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.33%. Deere & Company’s payout ratio is 28.72%.

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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

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.