Bank of Montreal Can Lowers Position in Deere & Company (NYSE:DE)

Bank of Montreal Can lessened its position in shares of Deere & Company (NYSE:DE) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,670 shares of the industrial products company’s stock after selling 20,919 shares during the quarter. Bank of Montreal Can owned about 0.13% of Deere & Company worth $150,697,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of DE. Zacks Investment Management increased its position in Deere & Company by 22.7% during the third quarter. Zacks Investment Management now owns 2,235 shares of the industrial products company’s stock valued at $933,000 after acquiring an additional 413 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Deere & Company by 6.4% during the third quarter. MML Investors Services LLC now owns 56,788 shares of the industrial products company’s stock valued at $23,699,000 after buying an additional 3,437 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Deere & Company by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 79,478 shares of the industrial products company’s stock valued at $33,169,000 after buying an additional 3,860 shares during the last quarter. Geller Advisors LLC lifted its stake in shares of Deere & Company by 6.1% during the 3rd quarter. Geller Advisors LLC now owns 770 shares of the industrial products company’s stock worth $322,000 after acquiring an additional 44 shares during the last quarter. Finally, Continuum Advisory LLC grew its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on DE shares. Oppenheimer increased their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Citigroup upped their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Truist Financial restated a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. UBS Group dropped their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday. Finally, StockNews.com lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Sunday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $458.84.

Insider Transactions at Deere & Company

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

Deere & Company Price Performance

Shares of NYSE DE opened at $422.15 on Tuesday. The stock has a market cap of $114.58 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.14 and a beta of 1.00. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The stock has a 50 day moving average of $475.31 and a two-hundred day moving average of $442.47. 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 released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced 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. This represents a $6.48 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is 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.