LFA Lugano Financial Advisors SA Trims Stock Position in Deere & Company (NYSE:DE)

LFA Lugano Financial Advisors SA trimmed its stake in Deere & Company (NYSE:DE) by 82.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74 shares of the industrial products company’s stock after selling 360 shares during the period. LFA Lugano Financial Advisors SA’s holdings in Deere & Company were worth $31,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. 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 worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC grew its stake in Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after buying an additional 31,459 shares during the last quarter. FMR LLC increased its position in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares during the period. Fisher Asset Management LLC lifted its stake in Deere & Company by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after buying an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock valued at $874,473,000 after acquiring an additional 107,544 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.8 %

Shares of NYSE DE opened at $471.49 on Thursday. The firm’s 50-day moving average is $464.49 and its two-hundred day moving average is $431.94. The company has a market capitalization of $127.97 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. 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 earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.37%. Deere & Company’s payout ratio is currently 28.72%.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Evercore ISI lifted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Oppenheimer increased their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Truist Financial restated 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. Finally, StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $460.00.

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.