Chesapeake Capital Corp IL bought a new stake in Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 751 shares of the industrial products company's stock, valued at approximately $318,000.
Other large investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC bought a new position in Deere & Company during the 4th quarter valued at $32,000. YANKCOM Partnership bought a new position in Deere & Company during the 4th quarter valued at $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter worth $35,000. Finally, Continuum Advisory LLC raised its stake in shares of Deere & Company by 155.8% in the 3rd 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 in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently commented on DE. StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. Evercore ISI lifted their target price on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Truist Financial reissued a "buy" rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday, March 7th. Finally, Citigroup increased their target price on shares of Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Deere & Company currently has an average rating of "Hold" and an average target price of $460.00.
Read Our Latest Analysis on Deere & Company
Insider Activity at Deere & Company
In other news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was 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 the SEC website. Company insiders own 0.29% of the company's stock.
Deere & Company Stock Performance
DE traded down $5.12 during trading hours on Friday, hitting $471.90. The company's stock had a trading volume of 1,684,992 shares, compared to its average volume of 1,361,832. The company has a 50-day simple moving average of $473.25 and a 200 day simple moving average of $436.57. 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 firm has a market capitalization of $128.08 billion, a PE ratio of 20.92, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week 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 EPS for the quarter, beating analysts' consensus estimates 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, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. Deere & Company's dividend payout ratio (DPR) is 28.72%.
Deere & Company Profile
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Free Report)
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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