Rajesh Kalathur Sells 24,580 Shares of Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Deere & Company Trading Up 1.6 %

Shares of Deere & Company stock traded up $7.98 on Wednesday, reaching $509.54. The company had a trading volume of 2,094,334 shares, compared to its average volume of 1,474,458. The firm has a market cap of $138.77 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 2.96 and a beta of 0.98. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm’s 50-day moving average price is $448.71 and its two-hundred day moving average price is $418.73. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate 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, research analysts predict that Deere & Company will post 19.35 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.27%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

Wall Street Analyst Weigh In

DE has been the topic of a number of research analyst reports. Truist Financial reissued a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Oppenheimer raised 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. Citigroup boosted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Evercore ISI increased their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus target price of $454.65.

Institutional Trading of Deere & Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC bought a new position in Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership purchased a new stake in Deere & Company in the fourth quarter worth $34,000. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $35,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.