Intellus Advisors LLC Makes New Investment in Deere & Company (NYSE:DE)

Intellus Advisors LLC purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 647 shares of the industrial products company's stock, valued at approximately $274,000.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after buying an additional 1,782,984 shares during the last quarter. FMR LLC increased its stake in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock worth $1,895,518,000 after acquiring an additional 988,380 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Deere & Company during the fourth quarter worth $296,232,000. Stockbridge Partners LLC lifted its position in Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock valued at $369,019,000 after purchasing an additional 540,874 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in Deere & Company by 52,200.3% in the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock valued at $224,920,000 after purchasing an additional 529,833 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

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Deere & Company Trading Down 0.1 %

NYSE:DE traded down $0.29 during trading hours on Tuesday, reaching $479.67. 287,490 shares of the stock were exchanged, compared to its average volume of 1,445,465. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The business has a 50-day moving average of $474.26 and a two-hundred day moving average of $437.56. The company has a market capitalization of $130.19 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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, equities analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is 28.72%.

Analysts Set New Price Targets

DE has been the subject of a number of recent research reports. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Truist Financial reiterated a "buy" rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Citigroup lifted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, Oppenheimer boosted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of "Hold" and a consensus price target of $460.00.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on 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 in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company's stock.

Deere & Company 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.