Bank of Jackson Hole Trust Makes New Investment in Deere & Company (NYSE:DE)

Bank of Jackson Hole Trust bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,298 shares of the industrial products company's stock, valued at approximately $550,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Wellington Management Group LLP boosted 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 acquiring an additional 1,782,984 shares during the period. Geode Capital Management LLC increased its position in Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock worth $2,168,737,000 after buying an additional 31,459 shares during the period. FMR LLC lifted 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 valued at $1,895,518,000 after buying an additional 988,380 shares during the period. Fisher Asset Management LLC raised its stake in shares of Deere & Company by 8.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company's stock valued at $832,431,000 after buying an additional 158,732 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Deere & Company by 5.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company's stock valued at $722,733,000 after buying an additional 85,401 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE:DE traded down $5.81 during midday trading on Friday, reaching $489.98. The stock had a trading volume of 1,102,183 shares, compared to its average volume of 1,465,614. 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 firm has a fifty day simple moving average of $451.08 and a two-hundred day simple moving average of $419.90. The stock has a market cap of $133.45 billion, a P/E ratio of 21.72, a P/E/G ratio of 2.20 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05.

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 analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.32%. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.

Wall Street Analysts Forecast Growth

DE has been the subject of several analyst reports. Barclays boosted their target price on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, November 25th. Truist Financial restated a "buy" rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. 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. Finally, UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and an average price target of $454.65.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm'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 transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by 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.