Optimum Investment Advisors Trims Stake in Deere & Company (NYSE:DE)

Optimum Investment Advisors lessened its stake in shares of Deere & Company (NYSE:DE) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,230 shares of the industrial products company’s stock after selling 200 shares during the quarter. Optimum Investment Advisors’ holdings in Deere & Company were worth $945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DE. Pineridge Advisors LLC raised its stake in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new position in Deere & Company in the 4th quarter worth $32,000. YANKCOM Partnership purchased a new position in Deere & Company in the 4th quarter worth $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the 4th quarter worth $35,000. Finally, Continuum Advisory LLC raised 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 during the last quarter. Institutional investors own 68.58% of the company’s stock.

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 stock was 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. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Deere & Company Trading Down 1.1 %

DE opened at $471.90 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The stock has a market capitalization of $128.08 billion, a PE ratio of 20.92, a P/E/G ratio of 2.14 and a beta of 1.01. The business’s 50 day moving average price is $473.25 and its 200 day moving average price is $436.57. 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 (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 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%. As a group, equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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 given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Analyst Ratings Changes

DE has been the subject of a number of research analyst reports. Citigroup raised their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. 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. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $460.00.

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.