Advisors Capital Management LLC Buys 1,434 Shares of Deere & Company (NYSE:DE)

Advisors Capital Management LLC boosted its stake in Deere & Company (NYSE:DE - Free Report) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,665 shares of the industrial products company's stock after purchasing an additional 1,434 shares during the quarter. Advisors Capital Management LLC's holdings in Deere & Company were worth $25,704,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DE. Sagespring Wealth Partners LLC acquired a new stake in Deere & Company in the fourth quarter worth $1,571,000. Townsquare Capital LLC increased its position in shares of Deere & Company by 14.4% in the 4th quarter. Townsquare Capital LLC now owns 7,272 shares of the industrial products company's stock valued at $3,081,000 after buying an additional 918 shares in the last quarter. Crux Wealth Advisors acquired a new stake in Deere & Company during the 4th quarter worth $292,000. Heritage Trust Co bought a new position in Deere & Company during the fourth quarter worth about $4,152,000. Finally, Family Office Research LLC acquired a new position in Deere & Company in the fourth quarter valued at about $251,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Performance

DE opened at $459.75 on Friday. 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 has a 12-month low of $340.20 and a 12-month high of $515.05. The business has a 50 day moving average of $470.92 and a 200-day moving average of $443.29. The stock has a market cap of $124.78 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.14 and a beta of 1.00.

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

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is 28.72%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DE shares. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Truist Financial reiterated a "buy" rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. UBS Group dropped their price objective on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Evercore ISI upped their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Finally, Citigroup lowered their target price on Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of "Hold" and a consensus price target of $457.26.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the business's 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 sale, 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 SEC, which is available through the SEC website. 0.29% of the stock is owned by company 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.

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