Good Life Advisors LLC Sells 70 Shares of Deere & Company (NYSE:DE)

Good Life Advisors LLC trimmed its position in Deere & Company (NYSE:DE) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 3,387 shares of the industrial products company’s stock after selling 70 shares during the quarter. Good Life Advisors LLC’s holdings in Deere & Company were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares in the last quarter. Modus Advisors LLC bought a new position in Deere & Company during the fourth quarter valued at $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company in the 4th quarter worth $34,000. Synergy Asset Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth about $35,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $44,000. 68.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’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 of the company’s stock, 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 document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Deere & Company Price Performance

Shares of DE stock opened at $509.54 on Thursday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a market capitalization of $138.77 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 2.96 and a beta of 0.98. The stock’s 50-day simple moving average is $449.95 and its 200-day simple moving average is $419.37.

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, 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%. As a group, equities analysts forecast that Deere & Company will post 19.35 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were paid a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Analyst Upgrades and Downgrades

DE has been the topic of several analyst reports. Citigroup boosted their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Truist Financial restated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. UBS Group raised their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $454.65.

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.