Wilkins Investment Counsel Inc. grew its stake in Deere & Company (NYSE:DE - Free Report) by 68.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,205 shares of the industrial products company's stock after acquiring an additional 1,710 shares during the period. Wilkins Investment Counsel Inc.'s holdings in Deere & Company were worth $1,782,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of DE. Pineridge Advisors LLC grew its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC bought a new position in Deere & Company during the fourth quarter worth about $32,000. YANKCOM Partnership acquired a new position in Deere & Company during the fourth quarter worth approximately $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC raised its stake in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.
Insider Activity
In other news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.
Deere & Company Price Performance
Shares of Deere & Company stock traded up $8.01 on Monday, reaching $480.44. 903,807 shares of the stock were exchanged, compared to its average volume of 1,360,000. 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 firm has a market cap of $130.40 billion, a PE ratio of 21.30, a P/E/G ratio of 2.14 and a beta of 1.01. The firm's 50 day moving average is $474.26 and its 200-day moving average is $437.56. Deere & Company has a one year low of $340.20 and a one year 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, 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%. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders 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 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio is presently 28.72%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on DE. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Morgan Stanley increased their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, November 25th. Evercore ISI lifted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Oppenheimer upped their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Truist Financial restated a "buy" rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $460.00.
Read Our Latest Report on DE
Deere & Company Profile
(
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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