Capital World Investors Raises Position in Deere & Company (NYSE:DE)

Capital World Investors grew its holdings in Deere & Company (NYSE:DE - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,058,259 shares of the industrial products company's stock after acquiring an additional 157,224 shares during the period. Capital World Investors owned about 2.22% of Deere & Company worth $2,566,884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pineridge Advisors LLC lifted its stake 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 valued at $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC purchased a new position in Deere & Company in the fourth quarter valued at $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company in the fourth quarter worth about $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth about $35,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Up 2.1 %

NYSE:DE traded up $9.51 on Thursday, hitting $465.95. The stock had a trading volume of 330,695 shares, compared to its average volume of 1,470,147. The company has a fifty day moving average price of $468.39 and a two-hundred day moving average price of $445.35. The stock has a market cap of $126.46 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.14 and a beta of 1.00. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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%. Equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio is presently 28.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DE shares. Morgan Stanley increased 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. Truist Financial reissued a "buy" rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Evercore ISI upped 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, February 19th. Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Oppenheimer upped their price target on shares of Deere & Company from $510.00 to $513.00 and gave the stock an "outperform" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $460.21.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the business'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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.

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.