Bryn Mawr Capital Management LLC Has $2.01 Million Stake in Deere & Company (NYSE:DE)

Bryn Mawr Capital Management LLC lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 414.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,731 shares of the industrial products company's stock after acquiring an additional 3,812 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in Deere & Company were worth $2,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Everence Capital Management Inc. increased its stake in Deere & Company by 148.3% in the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock worth $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Stockbridge Partners LLC boosted its holdings in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock worth $369,019,000 after buying an additional 540,874 shares during the period. Compass Financial Services Inc purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $254,000. Toronto Dominion Bank increased its position in shares of Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock worth $36,288,000 after acquiring an additional 1,291 shares in the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company's stock valued at $1,669,000 after acquiring an additional 1,400 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.

Analyst Ratings Changes

DE has been the subject of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Citigroup increased their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Truist Financial restated a "buy" rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a report on Thursday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $454.65.

Deere & Company Stock Down 1.2 %

Deere & Company stock traded down $5.81 during mid-day trading on Friday, hitting $489.98. 1,102,183 shares of the company's stock were exchanged, compared to its average volume of 1,465,614. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The stock has a 50 day moving average of $451.08 and a two-hundred day moving average of $419.90. 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 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 (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS 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%. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.32%. The ex-dividend date was Tuesday, December 31st. This is an increase 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.