Geode Capital Management LLC Boosts Position in Deere & Company (NYSE:DE)

Geode Capital Management LLC grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,305,571 shares of the industrial products company's stock after acquiring an additional 97,203 shares during the quarter. Geode Capital Management LLC owned 1.95% of Deere & Company worth $2,247,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in DE. Pineridge Advisors LLC grew its position 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 in the last quarter. Modus Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company during the fourth quarter worth $35,000. Finally, Continuum Advisory LLC boosted its position in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction 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 $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DE has been the topic of a number of recent analyst reports. Oppenheimer lifted their target price on Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Evercore ISI boosted their target price 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. StockNews.com upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, March 29th. Baird R W downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Truist Financial reiterated a "buy" rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $460.00.

Deere & Company Price Performance

NYSE DE traded down $17.20 on Friday, reaching $430.25. 3,609,575 shares of the company's stock traded hands, compared to its average volume of 1,417,940. The stock has a market cap of $116.78 billion, a PE ratio of 19.07, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The stock has a 50-day simple moving average of $476.55 and a 200 day simple moving average of $442.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating 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, research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.

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.