Redwood Investment Management LLC Trims Holdings in Deere & Company (NYSE:DE)

Redwood Investment Management LLC trimmed its stake in Deere & Company (NYSE:DE) by 95.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 761 shares of the industrial products company’s stock after selling 14,515 shares during the period. Redwood Investment Management LLC’s holdings in Deere & Company were worth $322,000 as of its most recent filing with the SEC.

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

Deere & Company Stock Up 3.0%

Shares of Deere & Company stock opened at $531.79 on Friday. The company has a market cap of $144.34 billion, a P/E ratio of 23.57, a PEG ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The firm has a fifty day moving average of $468.29 and a two-hundred day moving average of $454.33.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.22%. Deere & Company’s dividend payout ratio is presently 28.72%.

Wall Street Analyst Weigh In

DE has been the topic of several recent research reports. Oppenheimer upped their target price on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday. Bank of America boosted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a report on Friday. Truist Financial boosted their price target on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus price target of $495.00.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

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.