CANADA LIFE ASSURANCE Co Buys Shares of 4,987 Deere & Company (NYSE:DE)

CANADA LIFE ASSURANCE Co purchased a new position in Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,987 shares of the industrial products company's stock, valued at approximately $2,110,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Pineridge Advisors LLC lifted its holdings in shares of 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 bought a new stake in Deere & Company in the fourth quarter worth $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter valued at about $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at about $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Deere & Company in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction on 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 $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company's stock.

Deere & Company Stock Performance

Shares of DE stock opened at $458.92 on Monday. 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 company has a 50 day moving average price of $467.21 and a 200-day moving average price of $446.72. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The firm has a market capitalization of $124.56 billion, a PE ratio of 20.34, a P/E/G ratio of 2.14 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results 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 net margin of 12.94% and a return on equity of 27.31%. As a group, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on DE shares. Morgan Stanley raised their price target on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Robert W. Baird reissued a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. StockNews.com downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Sunday, April 6th. Citigroup decreased their target price on Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Deere & Company has an average rating of "Hold" and an average target price of $460.21.

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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