Laird Norton Wetherby Wealth Management LLC Has $2.70 Million Stake in Deere & Company (NYSE:DE)

Laird Norton Wetherby Wealth Management LLC decreased its holdings in shares of Deere & Company (NYSE:DE) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,364 shares of the industrial products company’s stock after selling 246 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Deere & Company were worth $2,697,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $1,406,000. Guardian Wealth Advisors LLC NC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $324,000. Gotham Asset Management LLC increased its stake in shares of Deere & Company by 9.6% in the fourth quarter. Gotham Asset Management LLC now owns 7,526 shares of the industrial products company’s stock valued at $3,189,000 after buying an additional 661 shares during the period. Graham Capital Management L.P. increased its stake in shares of Deere & Company by 69.8% in the fourth quarter. Graham Capital Management L.P. now owns 2,200 shares of the industrial products company’s stock valued at $932,000 after buying an additional 904 shares during the period. Finally, Greenline Partners LLC increased its stake in shares of Deere & Company by 123.1% in the fourth quarter. Greenline Partners LLC now owns 5,961 shares of the industrial products company’s stock valued at $2,526,000 after buying an additional 3,289 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on DE. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Oppenheimer upped their price objective on Deere & Company from $510.00 to $513.00 and gave the company an “outperform” rating in a research note on Tuesday, April 22nd. Truist Financial reaffirmed a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Morgan Stanley upped their target price on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $460.21.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 $37,484,675.58. This trade represents a 24.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

Deere & Company Price Performance

Deere & Company stock opened at $495.06 on Tuesday. The stock has a market capitalization of $134.37 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 2.14 and a beta of 1.08. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The stock’s 50 day moving average price is $466.33 and its two-hundred day moving average price is $452.10. 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 (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

About Deere & Company

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.