Redwood Financial Network Corp Sells 172 Shares of Deere & Company (NYSE:DE)

Redwood Financial Network Corp cut its holdings in Deere & Company (NYSE:DE) by 25.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 495 shares of the industrial products company’s stock after selling 172 shares during the quarter. Redwood Financial Network Corp’s holdings in Deere & Company were worth $210,000 as of its most recent SEC filing.

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

Deere & Company Stock Down 0.4%

Shares of DE opened at $496.71 on Thursday. The firm has a 50 day simple moving average of $466.61 and a two-hundred day simple moving average of $452.74. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company has a market cap of $134.81 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Buying and Selling at Deere & Company

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

Analyst Upgrades and Downgrades

Several brokerages have commented on DE. StockNews.com raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Tuesday. Evercore ISI lifted their target price on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Robert W. Baird reissued a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a research report 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. Finally, Morgan Stanley upped their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $460.21.

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.