Morey & Quinn Wealth Partners LLC Invests $1.03 Million in Deere & Company (NYSE:DE)

Morey & Quinn Wealth Partners LLC acquired a new position in Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,439 shares of the industrial products company's stock, valued at approximately $1,033,000. Deere & Company comprises 0.9% of Morey & Quinn Wealth Partners LLC's portfolio, making the stock its 24th biggest position.

Other institutional investors also recently made changes to their positions in the company. Pineridge Advisors LLC lifted its stake in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Deere & Company during the fourth quarter valued at about $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company in the fourth quarter worth about $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company in the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company's stock.

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Deere & Company Stock Down 3.0 %

NYSE:DE traded down $14.45 during trading hours on Friday, reaching $465.27. 1,183,544 shares of the company traded hands, compared to its average volume of 1,400,727. The business's 50-day moving average price is $477.28 and its two-hundred day moving average price is $439.76. The stock has a market capitalization of $126.28 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. 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 earnings per share 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%. Analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid 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 1.39%. Deere & Company's dividend payout ratio is presently 28.72%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Oppenheimer raised their price target on Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Truist Financial restated a "buy" rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. 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. Finally, Jefferies Financial Group cut shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $460.00.

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.