Edmond DE Rothschild Holding S.A. Increases Position in Deere & Company (NYSE:DE)

Edmond DE Rothschild Holding S.A. lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 16.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,634 shares of the industrial products company's stock after acquiring an additional 4,589 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in Deere & Company were worth $13,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Everence Capital Management Inc. grew its position in Deere & Company by 148.3% during the 4th 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 during the last quarter. Compass Financial Services Inc purchased a new stake in Deere & Company during the 4th quarter valued at $254,000. Toronto Dominion Bank grew its holdings in Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock worth $36,288,000 after acquiring an additional 1,291 shares during the last quarter. Czech National Bank boosted its holdings in shares of Deere & Company by 5.7% during the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock worth $23,376,000 after purchasing an additional 2,964 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Deere & Company in the third quarter worth about $86,337,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Remove Ads

Deere & Company Stock Down 1.7 %

Shares of DE traded down $7.91 during trading hours on Wednesday, hitting $470.54. The company had a trading volume of 1,393,138 shares, compared to its average volume of 1,400,822. The stock has a market capitalization of $127.71 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 2.14 and a beta of 1.01. The firm has a fifty day moving average price of $477.87 and a 200-day moving average price of $441.29. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

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 (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.38%. Deere & Company's payout ratio is 28.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DE shares. Evercore ISI lifted their price objective on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Truist Financial reiterated a "buy" rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Citigroup boosted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $460.00.

About Deere & Company

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.