Cibc World Markets Corp Raises Stock Position in Deere & Company (NYSE:DE)

Cibc World Markets Corp boosted its position in Deere & Company (NYSE:DE) by 15.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,420 shares of the industrial products company’s stock after purchasing an additional 5,318 shares during the quarter. Cibc World Markets Corp’s holdings in Deere & Company were worth $17,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after acquiring an additional 31,459 shares in the last quarter. FMR LLC boosted its position in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Deere & Company by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock worth $913,334,000 after purchasing an additional 160,956 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after purchasing an additional 107,544 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm’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 in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Citigroup increased their target price on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. One investment 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 an average rating of “Hold” and an average target price of $460.00.

Deere & Company Stock Up 1.1 %

Shares of NYSE:DE opened at $482.59 on Tuesday. Deere & Company has a 1 year low of $340.20 and a 1 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. The stock’s 50-day moving average is $467.88 and its 200 day moving average is $434.34. The company has a market cap of $130.98 billion, a PE ratio of 21.39, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last posted its 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%. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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 given a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.34%. Deere & Company’s dividend payout ratio is 28.72%.

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.