Evergreen Capital Management LLC Sells 78 Shares of Deere & Company (NYSE:DE)

Evergreen Capital Management LLC reduced its holdings in shares of Deere & Company (NYSE:DE) by 5.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,394 shares of the industrial products company’s stock after selling 78 shares during the period. Evergreen Capital Management LLC’s holdings in Deere & Company were worth $593,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Everence Capital Management Inc. lifted its position 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 buying an additional 7,300 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Deere & Company during the 4th quarter worth about $254,000. Czech National Bank lifted its holdings in Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after purchasing an additional 2,964 shares during the last quarter. Banque Pictet & Cie SA boosted its position in Deere & Company by 2.0% in the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock valued at $33,165,000 after buying an additional 1,500 shares in the last quarter. Finally, Spectrum Financial Alliance Ltd LLC boosted its position in Deere & Company by 2.9% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock valued at $21,021,000 after buying an additional 1,407 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $452.06 on Friday. The company has a market cap of $122.70 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The firm has a 50-day moving average of $469.77 and a 200-day moving average of $444.52. Deere & Company has a one year low of $340.20 and a one year high of $515.05. 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 (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, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.43%. Deere & Company’s dividend payout ratio is currently 28.72%.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DE. UBS Group cut their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. Truist Financial restated a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Evercore ISI increased their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday, April 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $459.89.

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.