Clearbridge Investments LLC boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 45.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 334,211 shares of the industrial products company's stock after acquiring an additional 104,628 shares during the quarter. Clearbridge Investments LLC owned about 0.12% of Deere & Company worth $141,605,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Pineridge Advisors LLC lifted its position 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 buying an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Deere & Company during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Insider Activity
In related 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.29% of the company's stock.
Analyst Ratings Changes
A number of analysts have issued reports on DE shares. StockNews.com raised Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, March 29th. Citigroup lifted their price objective on Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Jefferies Financial Group lowered Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Robert W. Baird reaffirmed a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Truist Financial reiterated a "buy" rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Deere & Company presently has an average rating of "Hold" and a consensus target price of $460.00.
Read Our Latest Research Report on Deere & Company
Deere & Company Stock Down 4.7 %
Deere & Company stock traded down $22.31 during midday trading on Thursday, reaching $448.59. The company's stock had a trading volume of 1,740,171 shares, compared to its average volume of 1,403,555. The company has a market cap of $121.75 billion, a P/E ratio of 19.93, 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. The business has a 50-day simple moving average of $478.09 and a 200-day simple moving average of $441.50. 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 issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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%. On average, research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently declared 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 annualized dividend and a yield of 1.44%. Deere & Company's dividend payout ratio is currently 28.72%.
About Deere & Company
(
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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