Dearborn Partners LLC Boosts Holdings in Deere & Company (NYSE:DE)

Dearborn Partners LLC increased its holdings in Deere & Company (NYSE:DE - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,853 shares of the industrial products company's stock after acquiring an additional 891 shares during the quarter. Dearborn Partners LLC's holdings in Deere & Company were worth $2,904,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC boosted its stake in Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock valued at $2,168,737,000 after acquiring an additional 31,459 shares in the last quarter. FMR LLC boosted its stake in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock valued at $1,895,518,000 after acquiring an additional 988,380 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Deere & Company by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock valued at $913,334,000 after acquiring an additional 160,956 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company's stock valued at $874,473,000 after acquiring an additional 107,544 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

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Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction dated 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 approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $0.62 during trading hours on Wednesday, reaching $474.89. The stock had a trading volume of 1,037,583 shares, compared to its average volume of 1,516,542. The stock's 50 day moving average is $463.53 and its 200 day moving average is $431.66. The firm has a market capitalization of $128.89 billion, a PE ratio of 21.03, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. 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 released its quarterly 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 net margin of 12.94% and a return on equity of 27.31%. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed 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 1.36%. Deere & Company's dividend payout ratio is presently 28.72%.

Analyst Ratings Changes

Several equities research analysts have weighed in on DE shares. Jefferies Financial Group downgraded shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Robert W. Baird restated a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday. StockNews.com downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. Finally, Truist Financial reiterated a "buy" rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $460.00.

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.