Victory Capital Management Inc. Sells 11,846 Shares of Deere & Company (NYSE:DE)

Victory Capital Management Inc. cut its holdings in shares of Deere & Company (NYSE:DE) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,214 shares of the industrial products company’s stock after selling 11,846 shares during the period. Victory Capital Management Inc.’s holdings in Deere & Company were worth $41,272,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. increased its holdings in Deere & Company by 21.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares during the period. Penserra Capital Management LLC raised its position in shares of Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after acquiring an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Deere & Company by 6.9% in the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after acquiring an additional 900 shares during the period. Centric Wealth Management bought a new stake in Deere & Company in the third quarter valued at approximately $2,640,000. Finally, Graham Capital Management L.P. increased its position in Deere & Company by 483.3% during the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock valued at $6,604,000 after purchasing an additional 14,500 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $400.96 on Monday. The firm has a market capitalization of $111.61 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.51 and a beta of 1.04. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The stock has a 50 day moving average price of $391.45 and a two-hundred day moving average price of $383.87. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the company posted $6.55 earnings per share. Deere & Company’s revenue was down 8.0% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DE shares. Wells Fargo & Company reduced their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Morgan Stanley started coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target for the company. Citigroup dropped 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. Truist Financial started coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Finally, Evercore ISI boosted their price target 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. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $433.28.

About Deere & Company

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.