Clearbridge Investments LLC Buys 104,628 Shares of Deere & Company (NYSE:DE)

Clearbridge Investments LLC boosted its holdings in Deere & Company (NYSE:DE - Free Report) by 45.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 334,211 shares of the industrial products company's stock after purchasing 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Everence Capital Management Inc. raised its stake in shares of Deere & Company by 148.3% in the fourth 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 during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $254,000. Toronto Dominion Bank lifted its stake in shares of Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock worth $36,288,000 after purchasing an additional 1,291 shares during the period. Czech National Bank grew its position in Deere & Company by 5.7% during the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock valued at $23,376,000 after buying an additional 2,964 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in Deere & Company in the third quarter worth approximately $86,337,000. Institutional investors own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DE shares. Truist Financial reaffirmed a "buy" rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Robert W. Baird restated a "neutral" rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Jefferies Financial Group cut Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Citigroup increased their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $460.00.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company'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 transaction, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

Deere & Company Trading Down 3.8 %

Shares of NYSE DE traded down $17.20 during trading hours on Friday, hitting $430.25. 3,609,575 shares of the company traded hands, compared to its average volume of 1,416,113. The company's 50 day moving average price is $476.55 and its 200 day moving average price is $441.78. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The stock has a market capitalization of $116.78 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. On average, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.

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.