Deere & Company (NYSE:DE) Shares Sold by CoreCap Advisors LLC

CoreCap Advisors LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,444 shares of the industrial products company’s stock after selling 374 shares during the quarter. CoreCap Advisors LLC’s holdings in Deere & Company were worth $612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% during the 4th 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. YANKCOM Partnership acquired a new position in Deere & Company in the 4th quarter valued at about $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company during the 4th quarter valued at approximately $35,000. Sierra Ocean LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $44,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $48,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 0.5 %

DE stock opened at $492.33 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. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The firm has a market capitalization of $133.63 billion, a PE ratio of 21.82, a P/E/G ratio of 2.14 and a beta of 1.08. The company’s 50 day simple moving average is $465.80 and its 200-day simple moving average is $450.92.

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

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were issued a $1.62 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup cut their price objective on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Morgan Stanley lifted their target price on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $460.21.

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.