Deere & Company (NYSE:DE) Position Trimmed by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC reduced its holdings in Deere & Company (NYSE:DE) by 19.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 564 shares of the industrial products company’s stock after selling 135 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Deere & Company were worth $239,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of DE. Norges Bank acquired a new stake in Deere & Company during the fourth quarter worth about $1,244,094,000. Wellington Management Group LLP grew its holdings in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $296,232,000. Proficio Capital Partners LLC lifted its holdings in shares of Deere & Company by 52,200.3% in the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock worth $224,920,000 after purchasing an additional 529,833 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC acquired a new position in Deere & Company during the 4th quarter valued at approximately $148,359,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DE shares. JPMorgan Chase & Co. increased their target price on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. StockNews.com upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, March 29th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Truist Financial reiterated a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $460.00.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’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 value 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 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 SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Deere & Company Stock Down 1.7 %

NYSE DE opened at $470.54 on Thursday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a market capitalization of $127.71 billion, a P/E ratio of 20.86, a PEG ratio of 2.14 and a beta of 1.01. The company’s 50 day simple moving average is $478.09 and its 200 day simple moving average is $441.50. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

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, 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%. Equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.38%. Deere & Company’s dividend payout ratio (DPR) is 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.