International Assets Investment Management LLC Sells 770,147 Shares of Deere & Company (NYSE:DE)

International Assets Investment Management LLC lessened its position in Deere & Company (NYSE:DE) by 99.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,947 shares of the industrial products company’s stock after selling 770,147 shares during the quarter. International Assets Investment Management LLC’s holdings in Deere & Company were worth $814,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC grew its position in Deere & Company by 324.4% in the second quarter. Acadian Asset Management LLC now owns 8,909 shares of the industrial products company’s stock valued at $3,328,000 after purchasing an additional 6,810 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Deere & Company by 5.7% in the 2nd quarter. LPL Financial LLC now owns 391,390 shares of the industrial products company’s stock valued at $146,235,000 after acquiring an additional 20,940 shares in the last quarter. Bahl & Gaynor Inc. increased its position in shares of Deere & Company by 41.5% in the second quarter. Bahl & Gaynor Inc. now owns 3,200 shares of the industrial products company’s stock valued at $1,196,000 after acquiring an additional 939 shares during the last quarter. American Century Companies Inc. raised its holdings in Deere & Company by 9.7% during the second quarter. American Century Companies Inc. now owns 250,298 shares of the industrial products company’s stock worth $93,519,000 after acquiring an additional 22,160 shares in the last quarter. Finally, Achmea Investment Management B.V. boosted its position in Deere & Company by 15.6% during the second quarter. Achmea Investment Management B.V. now owns 14,218 shares of the industrial products company’s stock valued at $5,313,000 after purchasing an additional 1,921 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $409.70 on Friday. The firm has a 50-day moving average price of $427.83 and a two-hundred day moving average price of $399.49. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a market capitalization of $111.26 billion, a P/E ratio of 16.00, a P/E/G ratio of 1.91 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 (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The business 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 firm’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.26 earnings per share. Analysts anticipate that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.58%. Deere & Company’s dividend payout ratio is currently 25.31%.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Citigroup boosted their price target on Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Truist Financial upped their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. 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. UBS Group lifted their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Morgan Stanley upped their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $443.94.

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.