Deere & Company (NYSE:DE) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC decreased its position in Deere & Company (NYSE:DE) by 4.8% in the 4th quarter, Holdings Channel reports. The fund owned 108,777 shares of the industrial products company’s stock after selling 5,454 shares during the period. ARK Investment Management LLC’s holdings in Deere & Company were worth $43,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its position in Deere & Company by 104,373.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after buying an additional 3,216,801 shares during the period. Norges Bank acquired a new position in shares of Deere & Company in the 4th quarter valued at $1,326,177,000. Morgan Stanley boosted its position in Deere & Company by 13.8% during the 4th quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock worth $1,962,085,000 after acquiring an additional 554,133 shares during the period. First Trust Advisors LP lifted its holdings in shares of Deere & Company by 561.5% during the 1st quarter. First Trust Advisors LP now owns 531,339 shares of the industrial products company’s stock valued at $219,379,000 after buying an additional 451,019 shares during the last quarter. Finally, CI Private Wealth LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at about $139,112,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $409.23 on Thursday. The stock’s fifty day simple moving average is $379.82 and its 200 day simple moving average is $381.32. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The firm has a market cap of $113.91 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.49 and a beta of 1.03. Deere & Company has a one year low of $345.55 and a one year high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.55 EPS. On average, analysts expect that Deere & Company will post 27.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DE. Melius Research reiterated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Truist Financial initiated coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Evercore ISI raised their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Citigroup cut their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Morgan Stanley initiated coverage on Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $431.69.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.