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

MainStreet Investment Advisors LLC lessened its position in shares of Deere & Company (NYSE:DE) by 4.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,426 shares of the industrial products company’s stock after selling 272 shares during the period. MainStreet Investment Advisors LLC’s holdings in Deere & Company were worth $2,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compass Financial Services Inc acquired a new position in Deere & Company during the 4th quarter worth approximately $254,000. Banque Pictet & Cie SA grew its holdings in Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after acquiring an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC grew its holdings in Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock worth $21,021,000 after acquiring an additional 1,407 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $847,000. Finally, BankPlus Trust Department purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $1,127,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.8%

DE stock opened at $499.81 on Wednesday. The company has a fifty day moving average price of $466.67 and a 200 day moving average price of $452.43. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a market cap of $135.66 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. 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 (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.30%. Deere & Company’s payout ratio is currently 28.72%.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Oppenheimer boosted their price objective on shares of Deere & Company from $510.00 to $513.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 22nd. 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. Evercore ISI boosted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird restated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $460.21.

Deere & Company 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.