Family Office Research LLC bought a new stake in Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 591 shares of the industrial products company's stock, valued at approximately $251,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership bought a new position in Deere & Company in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter worth $35,000. Finally, Continuum Advisory LLC increased its stake in shares of Deere & Company by 155.8% in 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 during the period. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Trading Down 1.4 %
DE stock traded down $6.36 during trading on Tuesday, reaching $461.31. The company had a trading volume of 1,143,014 shares, compared to its average volume of 1,431,354. The business has a 50 day moving average of $470.92 and a 200 day moving average of $443.86. 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 company has a market cap of $125.21 billion, a P/E ratio of 20.45, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly 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%. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share 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 is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.40%. Deere & Company's dividend payout ratio is currently 28.72%.
Insider Transactions at Deere & Company
In related 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 value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on DE shares. Truist Financial restated a "buy" rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Baird R W downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Evercore ISI boosted their target price 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. Robert W. Baird reiterated a "neutral" rating and issued a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Citigroup decreased their price objective on shares of Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $457.26.
Check Out Our Latest Stock Report on Deere & Company
About Deere & Company
(
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.
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