Deere & Company (NYSE:DE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in Deere & Company (NYSE:DE) by 89.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,118 shares of the industrial products company’s stock after selling 130,707 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Deere & Company were worth $6,045,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Pinnacle Associates Ltd. raised its stake in Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after acquiring an additional 939 shares during the period. Penserra Capital Management LLC raised its stake in Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after acquiring an additional 5,485 shares during the period. New Mexico Educational Retirement Board raised its stake in Deere & Company by 6.9% during the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after acquiring an additional 900 shares during the period. Centric Wealth Management acquired a new stake in Deere & Company during the third quarter worth about $2,640,000. Finally, Graham Capital Management L.P. raised its stake in Deere & Company by 483.3% during the third quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after acquiring an additional 14,500 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 1.0 %

Shares of NYSE:DE opened at $400.87 on Friday. The stock has a market capitalization of $111.59 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.48 and a beta of 1.04. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The company has a 50 day moving average price of $385.47 and a 200 day moving average price of $382.79.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the firm posted $6.55 earnings per share. On average, research analysts anticipate that Deere & Company will post 27.39 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Wall Street Analyst Weigh In

Several research firms have commented on DE. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Wells Fargo & Company decreased their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Truist Financial began coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Morgan Stanley began coverage on shares of Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.