Allspring Global Investments Holdings LLC Sells 130,707 Shares of Deere & Company (NYSE:DE)

Allspring Global Investments Holdings LLC reduced its position in shares of Deere & Company (NYSE:DE) by 89.6% in the 4th quarter, HoldingsChannel reports. The firm owned 15,118 shares of the industrial products company’s stock after selling 130,707 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Deere & Company were worth $6,045,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. lifted its holdings in Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in Deere & Company by 2.4% during the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after purchasing an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in Deere & Company by 6.9% during the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after purchasing an additional 900 shares during the last quarter. Centric Wealth Management bought a new position in shares of Deere & Company in the third quarter worth about $2,640,000. Finally, Graham Capital Management L.P. raised its stake in shares of Deere & Company by 483.3% in the third quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after acquiring an additional 14,500 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 1.0 %

Shares of NYSE:DE opened at $400.87 on Friday. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The company has a market capitalization of $111.59 billion, a PE ratio of 11.67, a PEG ratio of 1.48 and a beta of 1.04. The company has a 50 day moving average price of $385.47 and a two-hundred day moving average price of $382.79.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the firm earned $6.55 earnings per share. The business’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts forecast that Deere & Company will post 27.39 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is 17.12%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DE. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Citigroup dropped their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Evercore ISI boosted their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Finally, Wells Fargo & Company dropped their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Ten equities 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.com, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Profile

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.