FORA Capital LLC Lowers Stock Position in Deere & Company (NYSE:DE)

FORA Capital LLC trimmed its stake in Deere & Company (NYSE:DE) by 76.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,176 shares of the industrial products company’s stock after selling 13,375 shares during the period. FORA Capital LLC’s holdings in Deere & Company were worth $1,769,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Family Management Corp increased its stake in Deere & Company by 4.6% during the fourth quarter. Family Management Corp now owns 9,954 shares of the industrial products company’s stock worth $4,103,000 after purchasing an additional 436 shares during the period. Clark Capital Management Group Inc. boosted its position in Deere & Company by 11.5% in the 4th quarter. Clark Capital Management Group Inc. now owns 3,103 shares of the industrial products company’s stock valued at $1,315,000 after buying an additional 321 shares during the period. EP Wealth Advisors LLC increased its position in shares of Deere & Company by 10.8% during the fourth quarter. EP Wealth Advisors LLC now owns 5,480 shares of the industrial products company’s stock worth $2,322,000 after acquiring an additional 535 shares during the period. Colonial Trust Co SC raised its stake in shares of Deere & Company by 5.1% in the fourth quarter. Colonial Trust Co SC now owns 3,187 shares of the industrial products company’s stock valued at $1,350,000 after acquiring an additional 155 shares in the last quarter. Finally, Blue Capital Inc. acquired a new position in Deere & Company during the 4th quarter worth $9,276,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $490.50 on Friday. The company’s 50 day simple moving average is $465.12 and its 200-day simple moving average is $450.33. The firm has a market cap of $133.13 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. 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 issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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%. As a group, equities analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.32%. The ex-dividend date was Monday, March 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Robert W. Baird reiterated a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday, April 6th. Finally, Citigroup cut their price target on Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $460.21.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were 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 owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is 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.