Cigna Investments Inc. New Sells 23 Shares of Deere & Company (NYSE:DE)

Cigna Investments Inc. New decreased its holdings in Deere & Company (NYSE:DE) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,599 shares of the industrial products company’s stock after selling 23 shares during the quarter. Cigna Investments Inc. New’s holdings in Deere & Company were worth $1,101,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the third quarter worth $32,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $35,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE opened at $470.22 on Tuesday. The business’s 50 day moving average price is $445.00 and its two-hundred day moving average price is $413.46. The company has a market cap of $128.06 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a twelve month low of $340.20 and a twelve month high of $485.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.26 earnings per share. On average, analysts predict that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were given a $1.62 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.38%. Deere & Company’s dividend payout ratio is presently 25.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Oppenheimer lifted their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Citigroup reduced their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday. Finally, Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $446.17.

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.