Banco Santander S.A. Sells 2,092 Shares of Deere & Company (NYSE:DE)

Banco Santander S.A. lowered its stake in shares of Deere & Company (NYSE:DE) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,726 shares of the industrial products company’s stock after selling 2,092 shares during the quarter. Banco Santander S.A.’s holdings in Deere & Company were worth $6,239,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pineridge Advisors LLC raised its position in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC bought a new position in Deere & Company during the fourth quarter valued at about $32,000. YANKCOM Partnership bought a new position in Deere & Company during the fourth quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company in the 4th quarter valued at approximately $35,000. Finally, Continuum Advisory LLC lifted its position in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DE. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Truist Financial reissued a “buy” rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Oppenheimer lifted their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, UBS Group raised their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $457.22.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $499.73 on Friday. 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 has a 50 day simple moving average of $461.21 and a 200 day simple moving average of $429.83. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a market cap of $135.63 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.30%. Deere & Company’s dividend payout ratio is currently 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.