Nwam LLC Trims Stock Holdings in Deere & Company (NYSE:DE)

Nwam LLC decreased its position in Deere & Company (NYSE:DE) by 48.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,121 shares of the industrial products company’s stock after selling 1,043 shares during the period. Nwam LLC’s holdings in Deere & Company were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Pension Service raised its stake in Deere & Company by 13.9% in the 4th quarter. National Pension Service now owns 560,358 shares of the industrial products company’s stock worth $237,424,000 after acquiring an additional 68,272 shares during the last quarter. Fjell Capital LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $1,074,000. DMKC Advisory Services LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $1,869,000. Lake Street Advisors Group LLC raised its stake in shares of Deere & Company by 4.1% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,601 shares of the industrial products company’s stock valued at $1,106,000 after buying an additional 103 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. raised its stake in shares of Deere & Company by 3.9% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 4,023 shares of the industrial products company’s stock valued at $1,705,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DE shares. Truist Financial reiterated a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Evercore ISI lifted their price objective on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Citigroup lifted their price objective on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $454.65.

Deere & Company Trading Down 0.1 %

Shares of Deere & Company stock opened at $480.25 on Friday. The stock has a market cap of $130.80 billion, a P/E ratio of 21.29, a P/E/G ratio of 2.14 and a beta of 0.98. The stock’s 50 day simple moving average is $456.95 and its 200-day simple moving average is $425.63. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. 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 (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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%. Analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders 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 dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is presently 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred 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 sale, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

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.