Cetera Investment Advisers Sells 3,061 Shares of Deere & Company (NYSE:DE)

Cetera Investment Advisers lowered its stake in Deere & Company (NYSE:DE) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,002 shares of the industrial products company’s stock after selling 3,061 shares during the quarter. Cetera Investment Advisers’ holdings in Deere & Company were worth $48,726,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DE. Pineridge Advisors LLC increased its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the last quarter. YANKCOM Partnership purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company in the 4th quarter worth approximately $35,000. Sierra Ocean LLC bought a new position in shares of Deere & Company in the 4th quarter worth approximately $44,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $48,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $476.24 on Wednesday. The business’s 50-day moving average is $464.78 and its 200 day moving average is $449.60. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a market capitalization of $129.26 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last posted its earnings results 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%. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given 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 yield of 1.36%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DE shares. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Argus set a $510.00 target price on Deere & Company in a research report on Friday, March 7th. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. UBS Group lowered their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Finally, Truist Financial reissued a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $460.21.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction 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 owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.