Deere & Company (NYSE:DE) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC decreased its stake in Deere & Company (NYSE:DE) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,263 shares of the industrial products company’s stock after selling 60 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Deere & Company were worth $3,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its stake in shares of Deere & Company by 12.0% in the third quarter. Assenagon Asset Management S.A. now owns 8,680 shares of the industrial products company’s stock valued at $3,622,000 after purchasing an additional 927 shares during the period. Silver Oak Securities Incorporated grew its holdings in Deere & Company by 10.2% in the 3rd quarter. Silver Oak Securities Incorporated now owns 963 shares of the industrial products company’s stock worth $402,000 after buying an additional 89 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Deere & Company by 52.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,581 shares of the industrial products company’s stock valued at $21,143,000 after acquiring an additional 17,346 shares during the period. Arkadios Wealth Advisors raised its stake in Deere & Company by 1.4% during the 3rd quarter. Arkadios Wealth Advisors now owns 4,595 shares of the industrial products company’s stock valued at $1,918,000 after acquiring an additional 65 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in Deere & Company by 21.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 743 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 132 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 1.2 %

NYSE:DE opened at $489.98 on Monday. The stock has a fifty day simple moving average of $452.07 and a 200 day simple moving average of $421.97. The firm has a market capitalization of $133.45 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year 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.

Deere & Company (NYSE:DE) last posted 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 net margin of 12.94% and a return on equity of 27.31%. Sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were paid a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DE shares. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. UBS Group boosted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays increased their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Oppenheimer raised their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $454.65.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The stock was 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 approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.