Progressive Investment Management Corp Has $584,000 Stock Position in Deere & Company (NYSE:DE)

Progressive Investment Management Corp reduced its position in Deere & Company (NYSE:DE) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,378 shares of the industrial products company’s stock after selling 114 shares during the period. Progressive Investment Management Corp’s holdings in Deere & Company were worth $584,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its position in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after buying an additional 31,459 shares during the period. Norges Bank purchased a new position in shares of Deere & Company during the fourth quarter valued at $1,244,094,000. Fisher Asset Management LLC raised its position in Deere & Company by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after buying an additional 160,956 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Deere & Company by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock valued at $874,473,000 after buying an additional 107,544 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 3.0 %

Deere & Company stock opened at $465.27 on Friday. 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 fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a fifty day moving average price of $477.28 and a two-hundred day moving average price of $439.39. The firm has a market cap of $126.28 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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%. As a group, analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. Deere & Company’s dividend payout ratio is 28.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DE shares. Argus set a $510.00 price objective on Deere & Company in a research report on Friday, March 7th. Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Truist Financial reiterated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Oppenheimer boosted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Evercore ISI increased their price objective on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $460.00.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by corporate 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.