Deere & Company (NYSE:DE) Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A reduced its position in shares of Deere & Company (NYSE:DE) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,276 shares of the industrial products company’s stock after selling 40 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Deere & Company were worth $964,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilkins Investment Counsel Inc. boosted its position in Deere & Company by 68.5% in the 4th quarter. Wilkins Investment Counsel Inc. now owns 4,205 shares of the industrial products company’s stock valued at $1,782,000 after buying an additional 1,710 shares during the last quarter. Fiduciary Group LLC lifted its stake in shares of Deere & Company by 9.5% in the fourth quarter. Fiduciary Group LLC now owns 3,977 shares of the industrial products company’s stock worth $1,685,000 after acquiring an additional 346 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Deere & Company by 774.6% in the fourth quarter. Teacher Retirement System of Texas now owns 15,331 shares of the industrial products company’s stock worth $6,496,000 after acquiring an additional 13,578 shares in the last quarter. Sandy Spring Bank boosted its holdings in Deere & Company by 0.5% in the fourth quarter. Sandy Spring Bank now owns 10,636 shares of the industrial products company’s stock valued at $4,507,000 after purchasing an additional 56 shares during the last quarter. Finally, Arvest Investments Inc. grew its stake in Deere & Company by 4.1% during the 4th quarter. Arvest Investments Inc. now owns 941 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 37 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DE has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Evercore ISI upped their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Oppenheimer boosted their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen 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 $460.00.

Deere & Company Stock Down 0.3 %

Deere & Company stock opened at $479.73 on Thursday. 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 $515.05. The company has a 50-day simple moving average of $470.64 and a 200-day simple moving average of $435.32. The firm has a market capitalization of $130.20 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.14 and a beta of 1.01.

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

Deere & Company Announces Dividend

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 paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

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.