Norinchukin Bank The Sells 8,182 Shares of Deere & Company (NYSE:DE)

Norinchukin Bank The trimmed its stake in shares of Deere & Company (NYSE:DE) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,641 shares of the industrial products company’s stock after selling 8,182 shares during the period. Norinchukin Bank The’s holdings in Deere & Company were worth $32,896,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DE. Pineridge Advisors LLC raised its stake 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 worth $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership acquired a new stake in Deere & Company during the 4th quarter worth $34,000. Synergy Asset Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $44,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DE. Citigroup decreased their price objective on Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Truist Financial restated a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. UBS Group cut their price target on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday, March 7th. Finally, Evercore ISI upped their target price 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. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $459.89.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on 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 $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Deere & Company Stock Down 0.1 %

Shares of Deere & Company stock opened at $452.06 on Friday. The firm has a market cap of $122.70 billion, a PE ratio of 20.04, a P/E/G ratio of 2.14 and a beta of 1.00. The business’s 50 day simple moving average is $469.77 and its 200 day simple moving average is $444.52. 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 has a 52-week low of $340.20 and a 52-week high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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 net margin of 12.94% and a return on equity of 27.31%. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal 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 paid a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio is 28.72%.

Deere & 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.