Heritage Trust Co Purchases New Position in Deere & Company (NYSE:DE)

Heritage Trust Co bought a new stake in Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,800 shares of the industrial products company's stock, valued at approximately $4,152,000.

Other hedge funds also recently bought and sold shares of the company. Everence Capital Management Inc. increased its holdings in Deere & Company by 148.3% in the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock valued at $5,179,000 after purchasing an additional 7,300 shares during the last quarter. Compass Financial Services Inc purchased a new position in Deere & Company during the 4th quarter valued at about $254,000. Toronto Dominion Bank grew its position 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 valued at $36,288,000 after acquiring an additional 1,291 shares in the last quarter. Czech National Bank increased its stake in Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock worth $23,376,000 after buying an additional 2,964 shares during the period. Finally, Banque Pictet & Cie SA increased its position in shares of Deere & Company by 2.0% during the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock worth $33,165,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of DE traded down $6.27 on Wednesday, hitting $454.99. The company's stock had a trading volume of 400,685 shares, compared to its average volume of 1,427,829. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The company has a 50 day moving average price of $470.85 and a 200 day moving average price of $443.98. 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 capitalization of $123.49 billion, a PE ratio of 20.17, a PEG ratio of 2.14 and a beta of 1.00.

Remove Ads

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given 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 1.42%. Deere & Company's dividend payout ratio is currently 28.72%.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value 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. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on DE shares. JPMorgan Chase & Co. raised their price target on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. UBS Group reduced their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Evercore ISI boosted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Finally, Morgan Stanley upped their target price on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of "Hold" and an average price target of $459.89.

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.