Progressive Investment Management Corp Sells 114 Shares of Deere & Company (NYSE:DE)

Progressive Investment Management Corp trimmed its holdings in shares of Deere & Company (NYSE:DE) by 7.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,378 shares of the industrial products company’s stock after selling 114 shares during the period. Progressive Investment Management Corp’s holdings in Deere & Company were worth $584,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC bought a new stake in shares of Deere & Company in the 4th quarter worth about $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company during the 4th quarter worth about $34,000. Synergy Asset Management LLC bought a new position in Deere & Company during the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC acquired a new position in Deere & Company in the fourth quarter valued at about $44,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s 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 transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Deere & Company Trading Down 3.0 %

NYSE:DE opened at $465.27 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The firm has a market capitalization of $126.28 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.14 and a beta of 1.01. The business’s 50-day moving average price is $477.28 and its two-hundred day moving average price is $439.39.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. On average, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DE. 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 report on Tuesday, January 28th. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Truist Financial reissued 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. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $460.00.

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.