IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Deere & Company (NYSE:DE - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,880 shares of the industrial products company's stock after buying an additional 1,035 shares during the period. Deere & Company comprises approximately 1.1% of IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings, making the stock its 17th largest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Deere & Company were worth $9,271,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of DE. Pineridge Advisors LLC increased its holdings in 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 purchasing an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company in the fourth quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter worth about $35,000. Finally, Sierra Ocean LLC bought a new stake in Deere & Company during the 4th quarter worth about $44,000. Institutional investors own 68.58% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Evercore ISI boosted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. StockNews.com upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Truist Financial reiterated a "buy" rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $460.00.
View Our Latest Stock Analysis on Deere & Company
Insider Buying and Selling
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 directly 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 filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.
Deere & Company Stock Performance
NYSE:DE traded up $1.44 during mid-day trading on Monday, hitting $465.13. The stock had a trading volume of 510,986 shares, compared to its average volume of 1,397,229. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The stock has a market cap of $126.24 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.14 and a beta of 1.01. The company's 50 day simple moving average is $477.28 and its 200 day simple moving average is $440.12.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results 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 return on equity of 27.31% and a net margin of 12.94%. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid 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%.
Deere & Company 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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