67,155 Shares in Deere & Company (NYSE:DE) Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 67,155 shares of the industrial products company's stock, valued at approximately $28,454,000.

Other institutional investors have also recently bought and sold shares of the company. Robertson Stephens Wealth Management LLC increased its position in shares of Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock valued at $426,000 after acquiring an additional 22 shares during the period. DLK Investment Management LLC grew its stake in shares of Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock worth $3,479,000 after purchasing an additional 24 shares during the last quarter. Quent Capital LLC increased its holdings in Deere & Company by 2.8% during the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after purchasing an additional 24 shares during the period. Valeo Financial Advisors LLC raised its position in Deere & Company by 0.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock valued at $3,398,000 after purchasing an additional 24 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in Deere & Company by 4.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company's stock worth $236,000 after buying an additional 25 shares during the period. Institutional investors own 68.58% of the company's stock.

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Insider Activity at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the business's 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 completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Deere & Company Stock Up 3.5 %

Deere & Company stock traded up $15.56 during trading hours on Friday, hitting $459.75. The stock had a trading volume of 1,245,049 shares, compared to its average volume of 1,434,904. The stock's 50-day moving average price is $470.92 and its 200-day moving average price is $443.29. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. 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 stock has a market capitalization of $124.78 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data 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%. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is currently 28.72%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DE. Citigroup reduced their target price on Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a research note on Tuesday. Robert W. Baird restated a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Truist Financial reiterated a "buy" rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Oppenheimer increased 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. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of "Hold" and an average target price of $457.26.

Deere & 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.