Advisors Asset Management Inc. reduced its position in shares of Deere & Company (NYSE:DE - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,506 shares of the industrial products company's stock after selling 3,315 shares during the quarter. Advisors Asset Management Inc.'s holdings in Deere & Company were worth $6,994,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC purchased a new stake in Deere & Company in the fourth quarter worth about $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company in the fourth quarter worth about $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $35,000. Finally, Continuum Advisory LLC lifted its position in shares of Deere & Company by 155.8% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Price Performance
Shares of Deere & Company stock traded down $5.12 during trading hours on Friday, reaching $471.90. The company's stock had a trading volume of 1,684,992 shares, compared to its average volume of 1,361,832. The firm has a 50 day moving average price of $473.25 and a 200-day moving average price of $436.57. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock has a market cap of $128.08 billion, a P/E ratio of 20.92, a P/E/G ratio of 2.14 and a beta of 1.01. 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 quarterly earnings data 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 return on equity of 27.31% and a net margin of 12.94%. On average, analysts predict that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued 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 1.37%. Deere & Company's payout ratio is presently 28.72%.
Insider Buying and Selling
In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research firms recently issued reports on DE. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Truist Financial reaffirmed a "buy" rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Citigroup raised their price target on Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $460.00.
Read Our Latest Analysis 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.
Featured Articles
Before you consider Deere & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Deere & Company wasn't on the list.
While Deere & Company currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
