Adage Capital Partners GP L.L.C. Buys Shares of 54,143 Deere & Company (NYSE:DE)

Adage Capital Partners GP L.L.C. purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 54,143 shares of the industrial products company's stock, valued at approximately $22,940,000.

Other hedge funds also recently made changes to their positions in the company. Everence Capital Management Inc. grew its position in shares of Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock valued at $5,179,000 after buying an additional 7,300 shares during the last quarter. Compass Financial Services Inc bought a new position in Deere & Company in the 4th quarter valued at about $254,000. Czech National Bank increased its stake in shares of Deere & Company by 5.7% during the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock valued at $23,376,000 after acquiring an additional 2,964 shares during the period. Banque Pictet & Cie SA raised its stake in shares of Deere & Company by 2.0% in the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock worth $33,165,000 after buying an additional 1,500 shares in the last quarter. Finally, Spectrum Financial Alliance Ltd LLC lifted its holdings in Deere & Company by 2.9% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock valued at $21,021,000 after acquiring an additional 1,407 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. UBS Group reduced their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Evercore ISI raised their target price on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Oppenheimer lifted their target price on shares of Deere & Company from $510.00 to $513.00 and gave the stock an "outperform" rating in a report on Tuesday, April 22nd. Finally, Truist Financial reissued a "buy" rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $460.21.

Insider Activity at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now owns 74,878 shares of the company's stock, valued at $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 available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Price Performance

NYSE DE traded up $0.30 during trading hours on Tuesday, reaching $460.50. 799,615 shares of the company's stock were exchanged, compared to its average volume of 1,418,087. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The stock has a market cap of $124.99 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. 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 firm has a fifty day moving average of $466.23 and a 200-day moving average of $447.07.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data 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 research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.41%. Deere & Company's payout ratio is presently 28.72%.

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.