Princeton Capital Management LLC Decreases Stock Holdings in Deere & Company (NYSE:DE)

Princeton Capital Management LLC lowered its holdings in shares of Deere & Company (NYSE:DE) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,033 shares of the industrial products company’s stock after selling 170 shares during the quarter. Princeton Capital Management LLC’s holdings in Deere & Company were worth $2,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC raised its position in Deere & Company by 41.6% during the third quarter. Larson Financial Group LLC now owns 2,510 shares of the industrial products company’s stock valued at $1,047,000 after purchasing an additional 737 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Deere & Company by 6.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 44,255 shares of the industrial products company’s stock valued at $18,469,000 after purchasing an additional 2,759 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Deere & Company by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after buying an additional 158,732 shares during the period. Douglass Winthrop Advisors LLC lifted its position in Deere & Company by 2.9% in the third quarter. Douglass Winthrop Advisors LLC now owns 273,207 shares of the industrial products company’s stock worth $114,017,000 after buying an additional 7,753 shares during the last quarter. Finally, Prosperity Financial Group Inc. boosted its stake in Deere & Company by 6.8% during the third quarter. Prosperity Financial Group Inc. now owns 901 shares of the industrial products company’s stock worth $376,000 after buying an additional 57 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DE. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Oppenheimer raised their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped 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. Truist Financial restated a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. One research 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, the company has an average rating of “Hold” and a consensus target price of $460.00.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Up 1.7 %

Shares of DE stock opened at $480.44 on Tuesday. The stock’s fifty day moving average price is $474.26 and its 200 day moving average price is $437.56. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The company has a market cap of $130.40 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. 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 (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s payout ratio is currently 28.72%.

Deere & Company Profile

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.