Independent Advisor Alliance Acquires 1,582 Shares of Deere & Company (NYSE:DE)

Independent Advisor Alliance lifted its holdings in Deere & Company (NYSE:DE - Free Report) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,129 shares of the industrial products company's stock after buying an additional 1,582 shares during the quarter. Independent Advisor Alliance's holdings in Deere & Company were worth $4,292,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the period. Geode Capital Management LLC boosted its holdings in Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock valued at $2,168,737,000 after acquiring an additional 31,459 shares during the last quarter. FMR LLC increased its position in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Fisher Asset Management LLC raised its holdings in Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock worth $913,334,000 after purchasing an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Deere & Company by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company's stock valued at $874,473,000 after purchasing an additional 107,544 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Down 2.7 %

Shares of NYSE:DE opened at $475.70 on Wednesday. The firm has a market cap of $129.11 billion, a price-to-earnings ratio of 21.09, a PEG 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 company's fifty day simple moving average is $463.53 and its 200 day simple moving average is $431.66. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

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Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.36%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is 28.72%.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction on 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 sale, 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 SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

DE has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Citigroup lifted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Argus set a $510.00 price target on Deere & Company in a research report on Friday. Finally, Truist Financial reiterated a "buy" rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One equities 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.com, the stock presently has an average rating of "Hold" and a consensus price target of $460.00.

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.

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