Deere & Company (NYSE:DE) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC cut its stake in Deere & Company (NYSE:DE) by 2.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,670,330 shares of the industrial products company’s stock after selling 95,232 shares during the quarter. Deere & Company makes up about 3.2% of Parnassus Investments LLC’s holdings, making the stock its 6th biggest holding. Parnassus Investments LLC’s holdings in Deere & Company were worth $1,531,739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DE. Pathway Financial Advisers LLC raised its holdings in shares of Deere & Company by 53,338.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after buying an additional 770,451 shares in the last quarter. Swedbank AB acquired a new position in shares of Deere & Company in the 1st quarter worth approximately $191,628,000. Mawer Investment Management Ltd. bought a new stake in Deere & Company during the 2nd quarter worth approximately $166,937,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Deere & Company during the 3rd quarter worth approximately $136,936,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on DE shares. Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. increased their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Up 1.4 %

NYSE:DE opened at $404.63 on Tuesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $110.71 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.52 and a beta of 0.93. The stock’s fifty day simple moving average is $404.38 and its 200-day simple moving average is $385.70.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is presently 20.06%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.