HM Payson & Co. Increases Holdings in Deere & Company (NYSE:DE)

HM Payson & Co. boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 675.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,607 shares of the industrial products company's stock after buying an additional 27,530 shares during the period. HM Payson & Co.'s holdings in Deere & Company were worth $13,392,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pineridge Advisors LLC boosted its position 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 buying an additional 26 shares during the last quarter. Modus Advisors LLC bought a new position in Deere & Company during the 4th quarter valued at $32,000. YANKCOM Partnership purchased a new position in Deere & Company during the 4th quarter worth $34,000. Synergy Asset Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth $35,000. Finally, Continuum Advisory LLC raised its holdings in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 67 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm'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 sale, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Oppenheimer boosted 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. UBS Group increased their price target on Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Finally, Robert W. Baird restated a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $457.22.

Deere & Company Price Performance

NYSE:DE traded up $16.89 during mid-day trading on Friday, hitting $499.73. 2,615,248 shares of the stock traded hands, compared to its average volume of 1,513,524. The business's 50-day moving average price is $461.21 and its 200 day moving average price is $430.21. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company has a market cap of $135.63 billion, a PE ratio of 22.15, a price-to-earnings-growth 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.

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

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.30%. Deere & Company's payout ratio is currently 28.72%.

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.