Deere & Company (NYSE:DE) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of Deere & Company (NYSE:DE) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,670 shares of the industrial products company’s stock after selling 20,919 shares during the period. Bank of Montreal Can’s holdings in Deere & Company were worth $150,697,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Pineridge Advisors LLC raised its position in shares of Deere & Company by 60.5% in the 4th 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 acquired a new stake in Deere & Company during the fourth quarter worth about $32,000. YANKCOM Partnership acquired a new stake in Deere & Company during the fourth quarter worth about $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company in the 4th quarter worth about $35,000. Finally, Continuum Advisory LLC lifted its stake 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 valued at $43,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now owns 74,878 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

NYSE:DE opened at $422.15 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The business’s 50-day moving average price is $475.31 and its 200 day moving average price is $442.47. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The firm has a market cap of $114.58 billion, a P/E ratio of 18.71, a PEG ratio of 2.14 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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, sell-side analysts predict 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. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.54%. Deere & Company’s dividend payout ratio is currently 28.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Argus set a $510.00 price objective on shares of Deere & Company in a research report on Friday, March 7th. UBS Group reduced their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday. JPMorgan Chase & Co. increased their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Citigroup boosted their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $458.84.

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.