Broadway Wealth Solutions Inc. Buys Shares of 600 Deere & Company (NYSE:DE)

Broadway Wealth Solutions Inc. purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 600 shares of the industrial products company's stock, valued at approximately $254,000.

Several other hedge funds have also added to or reduced their stakes in DE. Pineridge Advisors LLC boosted its stake in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 26 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Deere & Company in the 4th quarter worth $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $35,000. Finally, Continuum Advisory LLC increased its holdings in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 1.7 %

DE stock traded up $7.96 during mid-day trading on Tuesday, reaching $477.31. 441,959 shares of the company traded hands, compared to its average volume of 1,419,695. The firm's 50 day moving average price is $477.56 and its 200 day moving average price is $440.70. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The stock has a market cap of $129.55 billion, a price-to-earnings ratio of 21.16, a P/E/G 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.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.36%. Deere & Company's payout ratio is 28.72%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DE. Jefferies Financial Group lowered Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a report on Monday, February 10th. StockNews.com raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday. Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. Finally, Robert W. Baird restated a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $460.00.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction dated 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 owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company's stock.

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.