Bank of Nova Scotia Sells 64,211 Shares of Deere & Company (NYSE:DE)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DE. Continuum Advisory LLC grew its position in 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 during the period. Executive Wealth Management LLC bought a new stake in shares of Deere & Company during the third quarter valued at about $232,000. Brophy Wealth Management LLC bought a new position in shares of Deere & Company in the third quarter worth approximately $420,000. Toronto Dominion Bank increased its position in shares of Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Deere & Company by 29.3% in the third quarter. Sunbelt Securities Inc. now owns 847 shares of the industrial products company’s stock worth $354,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. UBS Group reduced their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday. Robert W. Baird reissued a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Citigroup lowered their price objective on Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus target price of $457.26.

Deere & Company Stock Performance

NYSE DE opened at $453.75 on Thursday. The company has a market cap of $123.15 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The business’s 50 day moving average price is $471.63 and its 200-day moving average price is $442.69. Deere & Company has a fifty-two week low of $340.20 and a fifty-two 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 return on equity of 27.31% and a net margin of 12.94%. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

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.