BNP Paribas Has $5.10 Million Stake in Deere & Company (NYSE:DE)

BNP Paribas reduced its holdings in shares of Deere & Company (NYSE:DE) by 83.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,037 shares of the industrial products company’s stock after selling 59,998 shares during the period. BNP Paribas’ holdings in Deere & Company were worth $5,103,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Alteri Wealth LLC bought a new position in Deere & Company during the fourth quarter worth $223,000. Anderson Financial Strategies LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $53,000. Aptus Capital Advisors LLC boosted its position in shares of Deere & Company by 26.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 33,477 shares of the industrial products company’s stock worth $14,192,000 after purchasing an additional 6,942 shares in the last quarter. AlTi Global Inc. grew its stake in shares of Deere & Company by 0.6% in the 4th quarter. AlTi Global Inc. now owns 4,624 shares of the industrial products company’s stock valued at $2,102,000 after buying an additional 27 shares during the period. Finally, Alaethes Wealth LLC increased its position in Deere & Company by 0.9% in the 4th quarter. Alaethes Wealth LLC now owns 4,660 shares of the industrial products company’s stock valued at $1,982,000 after buying an additional 40 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $481.40 on Friday. The company has a market capitalization of $130.66 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a 50-day simple moving average of $464.80 and a 200 day simple moving average of $448.60.

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, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s payout ratio is presently 28.72%.

Insider Activity

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 transaction of $12,304,993.80. Following the sale, the insider now directly 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Sunday, April 6th. Oppenheimer lifted their price target on shares of Deere & Company from $510.00 to $513.00 and gave the company an “outperform” rating in a research report on Tuesday, April 22nd. Robert W. Baird restated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. 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, Deere & Company currently has a consensus 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.