Envestnet Asset Management Inc. Buys 15,099 Shares of Deere & Company (NYSE:DE)

Envestnet Asset Management Inc. grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 259,400 shares of the industrial products company's stock after acquiring an additional 15,099 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Deere & Company worth $109,908,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DE. Everence Capital Management Inc. raised its holdings in Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock worth $5,179,000 after acquiring an additional 7,300 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $254,000. Toronto Dominion Bank raised its stake in shares of Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock worth $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Czech National Bank boosted its holdings in shares of Deere & Company by 5.7% in the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock valued at $23,376,000 after buying an additional 2,964 shares during the last quarter. Finally, Banque Pictet & Cie SA grew its stake in shares of Deere & Company by 2.0% in the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock valued at $33,165,000 after buying an additional 1,500 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

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Deere & Company Price Performance

Shares of NYSE DE traded up $15.56 during midday trading on Friday, reaching $459.75. The company's stock had a trading volume of 1,245,049 shares, compared to its average volume of 1,433,099. 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 company has a market cap of $124.78 billion, a P/E ratio of 20.38, a P/E/G ratio of 2.14 and a beta of 1.00. The business's 50 day moving average price is $470.92 and its two-hundred day moving average price is $443.51. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05.

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 for the quarter, beating 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 forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.41%. Deere & Company's payout ratio is 28.72%.

Insider Buying and Selling at Deere & Company

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 transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on DE shares. Evercore ISI increased their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Oppenheimer raised their target price 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. Citigroup reduced their price target on Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Truist Financial restated a "buy" rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $457.26.

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.