Alerus Financial NA Has $924,000 Stake in Deere & Company (NYSE:DE)

Alerus Financial NA reduced its stake in shares of Deere & Company (NYSE:DE) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,180 shares of the industrial products company’s stock after selling 43 shares during the quarter. Alerus Financial NA’s holdings in Deere & Company were worth $924,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Townsquare Capital LLC raised its position in Deere & Company by 26.2% in the 3rd quarter. Townsquare Capital LLC now owns 6,354 shares of the industrial products company’s stock valued at $2,652,000 after purchasing an additional 1,319 shares during the last quarter. Blueshift Asset Management LLC raised its holdings in shares of Deere & Company by 41.1% in the third quarter. Blueshift Asset Management LLC now owns 1,973 shares of the industrial products company’s stock valued at $823,000 after buying an additional 575 shares during the last quarter. Providence Capital Advisors LLC lifted its position in Deere & Company by 1.1% during the 3rd quarter. Providence Capital Advisors LLC now owns 14,197 shares of the industrial products company’s stock worth $5,925,000 after buying an additional 151 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Deere & Company by 5.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 126,790 shares of the industrial products company’s stock worth $52,913,000 after acquiring an additional 6,210 shares during the last quarter. Finally, De Lisle Partners LLP raised its stake in shares of Deere & Company by 15.0% in the third quarter. De Lisle Partners LLP now owns 11,500 shares of the industrial products company’s stock worth $4,799,000 after acquiring an additional 1,500 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 completion of the transaction, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.

Deere & Company Price Performance

NYSE DE opened at $479.69 on Friday. The firm’s 50 day moving average is $477.11 and its 200-day moving average is $438.85. 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 company has a market capitalization of $130.19 billion, a PE ratio of 21.26, 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.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 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%. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company 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 is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is presently 28.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Oppenheimer raised their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Evercore ISI lifted their price target 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. Finally, Truist Financial reaffirmed a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $460.00.

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.