Forum Financial Management LP Lowers Position in Deere & Company (NYSE:DE)

Forum Financial Management LP reduced its position in shares of Deere & Company (NYSE:DE) by 64.5% during the fourth quarter, Holdings Channel reports. The firm owned 4,597 shares of the industrial products company’s stock after selling 8,355 shares during the period. Forum Financial Management LP’s holdings in Deere & Company were worth $1,948,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DE. FMR LLC raised its stake in shares of Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Geode Capital Management LLC boosted its position in shares of Deere & Company by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after acquiring an additional 97,203 shares during the period. Norges Bank purchased a new position in shares of Deere & Company during the 4th quarter valued at $1,244,094,000. Fisher Asset Management LLC grew its position in 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 buying 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. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Robert W. Baird reiterated a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. Truist Financial reiterated a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Oppenheimer lifted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Morgan Stanley upped their price target on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $459.89.

Deere & Company Price Performance

DE stock opened at $452.06 on Friday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The firm has a market capitalization of $122.70 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a fifty day simple moving average of $469.77 and a two-hundred day simple moving average of $444.52. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating 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%. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s dividend payout ratio is presently 28.72%.

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.