Miller Financial Services LLC bought a new position in Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,125 shares of the industrial products company's stock, valued at approximately $476,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Pineridge Advisors LLC lifted 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 shares of Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC boosted its stake in 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 acquiring an additional 67 shares in the last quarter. Institutional investors own 68.58% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on DE. Robert W. Baird reaffirmed a "neutral" rating and set a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Argus set a $510.00 price target on shares of Deere & Company in a report on Friday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $460.00.
View Our Latest Analysis on Deere & Company
Deere & Company Price Performance
NYSE:DE traded down $0.86 during trading hours on Wednesday, hitting $474.64. 1,092,245 shares of the stock were exchanged, compared to its average volume of 1,517,349. The firm's fifty day moving average price is $463.53 and its 200 day moving average price is $431.66. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a market cap of $128.82 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping 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, 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 announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is 28.72%.
Insider Activity
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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company's stock.
Deere & Company Profile
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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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