Nuveen Asset Management LLC Cuts Stock Position in Deere & Company (NYSE:DE)

Nuveen Asset Management LLC lowered its stake in Deere & Company (NYSE:DE) by 6.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,186,741 shares of the industrial products company’s stock after selling 85,161 shares during the period. Nuveen Asset Management LLC owned 0.44% of Deere & Company worth $502,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. Capital World Investors boosted its stake in shares of Deere & Company by 2.7% in the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after buying an additional 157,224 shares during the last quarter. FMR LLC boosted its stake in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after buying an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after buying an additional 97,203 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Deere & Company in the 4th quarter worth $1,244,094,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DE shares. UBS Group dropped their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Robert W. Baird restated a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Truist Financial restated a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $460.21.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

NYSE:DE opened at $496.71 on Thursday. 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 business’s 50-day simple moving average is $466.61 and its two-hundred day simple moving average is $452.74. The stock has a market cap of $134.81 billion, a PE ratio of 22.02, a P/E/G ratio of 2.14 and a beta of 1.08. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly 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%. As a group, analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a dividend of $1.62 per share. The ex-dividend date was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.30%. Deere & Company’s payout ratio is 28.72%.

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.