Allspring Global Investments Holdings LLC Sells 691 Shares of Deere & Company (NYSE:DE)

Allspring Global Investments Holdings LLC decreased its holdings in Deere & Company (NYSE:DE) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,415 shares of the industrial products company’s stock after selling 691 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Deere & Company were worth $5,192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $32,000. YANKCOM Partnership bought a new position in Deere & Company during the fourth quarter worth $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company in the fourth quarter valued at $35,000. Finally, Continuum Advisory LLC boosted its position in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 1.6 %

Shares of Deere & Company stock opened at $509.54 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $138.77 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 2.96 and a beta of 0.98. The stock has a fifty day simple moving average of $449.95 and a 200 day simple moving average of $419.37. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05.

Deere & Company (NYSE:DE) last released its earnings results 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 return on equity of 27.31% and a net margin of 12.94%. On average, sell-side analysts anticipate that Deere & Company will post 19.35 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.27%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Wall Street Analyst Weigh In

DE has been the subject of several research analyst reports. Jefferies Financial Group lowered 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. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley raised their price objective 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. Citigroup lifted their price objective 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, Evercore ISI raised their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $454.65.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

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.