Deere & Company (NYSE:DE) Sets New 1-Year High - Here's What Happened

Deere & Company (NYSE:DE - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $490.95 and last traded at $491.97, with a volume of 298658 shares. The stock had previously closed at $480.22.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com cut Deere & Company from a "hold" rating to a "sell" rating in a report on Thursday. Truist Financial reaffirmed a "buy" rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Finally, 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 research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $454.65.

Deere & Company Price Performance

The stock has a market capitalization of $133.45 billion, a P/E ratio of 21.72, a PEG ratio of 2.20 and a beta of 0.98. The company has a 50 day moving average of $452.07 and a 200-day moving average of $420.91. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

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, topping 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%. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a $1.62 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.32%. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the 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 sale, the insider now directly owns 74,878 shares of the company's stock, valued at $37,484,675.58. This trade 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 available at this link. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Deere & Company

Hedge funds and other institutional investors have recently modified their holdings of the company. Robertson Stephens Wealth Management LLC lifted its position in Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock valued at $426,000 after purchasing an additional 22 shares during the last quarter. DLK Investment Management LLC increased its stake in shares of Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock valued at $3,479,000 after purchasing an additional 24 shares during the period. Quent Capital LLC increased its stake in shares of Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after purchasing an additional 24 shares during the period. Valeo Financial Advisors LLC raised its holdings in shares of Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock valued at $3,398,000 after buying an additional 24 shares during the last quarter. Finally, Carret Asset Management LLC boosted its position in shares of Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company's stock worth $3,401,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

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.