Bridges Investment Management Inc. Cuts Stock Position in Deere & Company (NYSE:DE)

Bridges Investment Management Inc. decreased its holdings in shares of Deere & Company (NYSE:DE) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,261 shares of the industrial products company’s stock after selling 75 shares during the quarter. Bridges Investment Management Inc.’s holdings in Deere & Company were worth $3,500,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its position in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares in the last quarter. FMR LLC lifted its stake in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Stockbridge Partners LLC lifted its stake in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Deere & Company by 52,200.3% during the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock valued at $224,920,000 after purchasing an additional 529,833 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $148,359,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Citigroup upped their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Evercore ISI raised their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Truist Financial reissued a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $454.65.

Insider Buying and Selling at Deere & Company

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 value of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $480.25 on Friday. The firm has a market cap of $130.80 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 2.14 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. 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 company’s 50 day moving average is $456.95 and its 200 day moving average is $426.15.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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%. On average, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. Deere & Company’s dividend payout ratio is presently 28.72%.

Deere & 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.