14,014 Shares in Deere & Company (NYSE:DE) Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp acquired a new position in Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,014 shares of the industrial products company's stock, valued at approximately $5,938,000.

A number of other hedge funds also recently added to or reduced their stakes in DE. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after acquiring an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $32,000. YANKCOM Partnership purchased a new position in Deere & Company in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after acquiring an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DE. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Truist Financial reiterated a "buy" rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Citigroup boosted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $454.65.

Deere & Company Stock Down 1.4 %

Shares of NYSE DE traded down $7.10 during midday trading on Friday, reaching $488.69. 615,707 shares of the company's stock traded hands, compared to its average volume of 1,450,284. The company has a market cap of $133.09 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 2.20 and a beta of 0.98. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The stock's 50 day simple moving average is $451.08 and its 200-day simple moving average is $419.90.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Tuesday, December 31st. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio (DPR) is 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.