Brandywine Global Investment Management LLC Increases Holdings in Deere & Company (NYSE:DE)

Brandywine Global Investment Management LLC raised its position in shares of Deere & Company (NYSE:DE - Free Report) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 373,567 shares of the industrial products company's stock after buying an additional 27,643 shares during the quarter. Deere & Company comprises approximately 1.1% of Brandywine Global Investment Management LLC's portfolio, making the stock its 16th biggest position. Brandywine Global Investment Management LLC owned 0.14% of Deere & Company worth $158,280,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in 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 buying an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock worth $2,168,737,000 after purchasing an additional 31,459 shares during the last quarter. Norges Bank bought a new position in Deere & Company in the 4th quarter worth about $1,244,094,000. Fisher Asset Management LLC grew its position in Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock valued at $913,334,000 after purchasing an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Deere & Company by 5.5% during the 4th 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 purchasing an additional 107,544 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

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Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, March 29th. Evercore ISI increased their target price on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Argus set a $510.00 price objective on Deere & Company in a research report on Friday, March 7th. Finally, Truist Financial reissued a "buy" rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $460.00.

Deere & Company Stock Performance

NYSE DE traded down $15.46 on Thursday, reaching $455.44. 1,160,941 shares of the stock were exchanged, compared to its average volume of 1,401,124. 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 has a one year low of $340.20 and a one year high of $515.05. The firm has a market capitalization of $123.61 billion, a PE ratio of 20.19, a PEG ratio of 2.14 and a beta of 1.01. The company's 50-day simple moving average is $478.09 and its two-hundred day simple moving average is $441.50.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) 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%. Analysts expect that Deere & Company will post 19.32 EPS 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. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is currently 28.72%.

Deere & Company 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.