Deere & Company (NYSE:DE) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. cut its holdings in Deere & Company (NYSE:DE) by 12.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 75,315 shares of the industrial products company’s stock after selling 10,495 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Deere & Company were worth $31,911,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Empowered Funds LLC increased its holdings in shares of Deere & Company by 69.8% in the 3rd quarter. Empowered Funds LLC now owns 14,020 shares of the industrial products company’s stock valued at $5,851,000 after acquiring an additional 5,764 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Deere & Company by 9.3% during the 3rd quarter. Natixis Advisors LLC now owns 166,896 shares of the industrial products company’s stock worth $69,652,000 after purchasing an additional 14,137 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Deere & Company in the third quarter valued at $204,000. Schear Investment Advisers LLC lifted its position in shares of Deere & Company by 16.5% in the third quarter. Schear Investment Advisers LLC now owns 2,249 shares of the industrial products company’s stock valued at $939,000 after acquiring an additional 318 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Deere & Company during the third quarter worth $344,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on DE shares. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Evercore ISI raised their target price on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Citigroup lifted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $460.00.

Deere & Company Price Performance

NYSE:DE opened at $478.67 on Monday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The business has a 50 day simple moving average of $466.59 and a 200-day simple moving average of $433.63. The firm has a market capitalization of $129.92 billion, a price-to-earnings ratio of 21.22, a PEG 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 issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction 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 trade represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Deere & Company 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.