Handelsbanken Fonder AB boosted its holdings in Deere & Company (NYSE:DE - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,119 shares of the industrial products company's stock after purchasing an additional 3,248 shares during the quarter. Handelsbanken Fonder AB's holdings in Deere & Company were worth $39,878,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Pineridge Advisors LLC increased its holdings in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in Deere & Company during the 4th quarter valued at about $32,000. YANKCOM Partnership bought a new stake in Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Deere & Company in the fourth quarter worth approximately $44,000. Institutional investors own 68.58% of the company's stock.
Deere & Company Stock Performance
Shares of DE traded down $5.81 on Friday, reaching $489.98. The company's stock had a trading volume of 1,102,183 shares, compared to its average volume of 1,465,614. The stock's 50 day simple moving average is $451.08 and its two-hundred day simple moving average is $419.90. 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 capitalization of $133.45 billion, a P/E ratio of 21.72, a PEG ratio of 2.20 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month 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 (EPS) for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.32%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's payout ratio is currently 28.72%.
Insiders Place Their Bets
In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 transaction, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company's stock.
Analysts Set New Price Targets
DE has been the subject of several analyst reports. Oppenheimer raised their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Truist Financial reaffirmed a "buy" rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Jefferies Financial Group lowered Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $454.65.
Check Out Our Latest Report on DE
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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