Geller Advisors LLC Lowers Stake in Deere & Company (NYSE:DE)

Geller Advisors LLC trimmed its position in Deere & Company (NYSE:DE) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 721 shares of the industrial products company’s stock after selling 49 shares during the period. Geller Advisors LLC’s holdings in Deere & Company were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the company. Gotham Asset Management LLC raised its holdings in Deere & Company by 9.6% during the fourth quarter. Gotham Asset Management LLC now owns 7,526 shares of the industrial products company’s stock worth $3,189,000 after purchasing an additional 661 shares in the last quarter. Graham Capital Management L.P. lifted its holdings in Deere & Company by 69.8% in the fourth quarter. Graham Capital Management L.P. now owns 2,200 shares of the industrial products company’s stock valued at $932,000 after acquiring an additional 904 shares during the period. Greenline Partners LLC boosted its holdings in Deere & Company by 123.1% during the fourth quarter. Greenline Partners LLC now owns 5,961 shares of the industrial products company’s stock worth $2,526,000 after buying an additional 3,289 shares in the last quarter. Focus Partners Wealth increased its stake in shares of Deere & Company by 4.2% during the 4th quarter. Focus Partners Wealth now owns 30,240 shares of the industrial products company’s stock worth $12,813,000 after purchasing an additional 1,206 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its holdings in shares of Deere & Company by 93.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 175,572 shares of the industrial products company’s stock worth $74,390,000 after acquiring an additional 84,896 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $492.33 on Friday. The stock has a market cap of $133.63 billion, a P/E ratio of 21.82, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm’s 50-day simple moving average is $465.80 and its 200 day simple moving average is $450.92. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating 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 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.32%. Deere & Company’s payout ratio is presently 28.72%.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on 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 approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DE shares. Citigroup reduced their price objective on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Truist Financial restated a “buy” rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. UBS Group decreased their target price on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Morgan Stanley raised their price target 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. Finally, Oppenheimer upped their target price on Deere & Company from $510.00 to $513.00 and gave the company an “outperform” rating in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $460.21.

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.