Deere & Company (NYSE:DE) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of Deere & Company (NYSE:DE) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 66,390 shares of the industrial products company’s stock after selling 4,425 shares during the period. Amalgamated Bank’s holdings in Deere & Company were worth $26,547,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. lifted its holdings in shares of Deere & Company by 21.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of Deere & Company by 2.4% during the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after purchasing an additional 5,485 shares during the period. New Mexico Educational Retirement Board grew its position in shares of Deere & Company by 6.9% in the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after purchasing an additional 900 shares during the period. Centric Wealth Management purchased a new position in Deere & Company during the third quarter worth about $2,640,000. Finally, Graham Capital Management L.P. boosted its stake in Deere & Company by 483.3% in the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after buying an additional 14,500 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DE has been the subject of a number of recent analyst reports. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Evercore ISI increased their target price on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company decreased their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Finally, Truist Financial started coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $433.28.

Deere & Company Stock Performance

Deere & Company stock traded up $8.46 on Thursday, reaching $395.96. 1,780,264 shares of the stock were exchanged, compared to its average volume of 1,470,164. The stock has a market cap of $110.22 billion, a PE ratio of 11.40, a PEG ratio of 1.47 and a beta of 1.04. The firm has a fifty day moving average price of $389.94 and a two-hundred day moving average price of $383.76. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $6.55 EPS. Sell-side analysts anticipate that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.48%. Deere & Company’s dividend payout ratio is 17.12%.

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.