Deere & Company (NYSE:DE) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its position in Deere & Company (NYSE:DE) by 58.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,167 shares of the industrial products company’s stock after selling 64,211 shares during the period. Bank of Nova Scotia’s holdings in Deere & Company were worth $19,567,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $1,244,094,000. FMR LLC raised its holdings in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after buying an additional 1,039,395 shares during the period. Raymond James Financial Inc. purchased a new stake in Deere & Company in the 4th quarter valued at about $296,232,000. Proficio Capital Partners LLC increased its stake in Deere & Company by 52,200.3% during the fourth 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 period. Finally, Strategic Wealth Investment Group LLC purchased a new stake in Deere & Company during the fourth quarter worth about $148,359,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DE shares. Truist Financial reissued 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. Citigroup lowered their price target on Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a report on Tuesday. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday. Argus set a $510.00 price target on Deere & Company in a research note on Friday, March 7th. Finally, UBS Group cut their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $457.26.

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 completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Deere & Company Stock Up 9.9 %

DE stock opened at $453.75 on Thursday. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The stock has a market capitalization of $123.15 billion, a P/E ratio of 20.11, a PEG ratio of 2.14 and a beta of 1.00. The company has a 50 day moving average price of $471.63 and a two-hundred day moving average price of $442.69. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 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%. As a group, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Monday, March 31st. 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.