Principal Financial Group Inc. raised its stake in shares of Deere & Company (NYSE:DE - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 929,815 shares of the industrial products company's stock after buying an additional 7,807 shares during the quarter. Principal Financial Group Inc. owned about 0.34% of Deere & Company worth $393,963,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Pineridge Advisors LLC boosted its holdings 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 worth $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $32,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the third quarter worth $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Finally, Synergy Asset Management LLC acquired a new position in Deere & Company in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on DE shares. Barclays lifted their target price on Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. UBS Group lifted their target price on Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Finally, Evercore ISI lifted their target price on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $454.65.
Check Out Our Latest Research Report on Deere & Company
Deere & Company Stock Performance
DE stock traded down $12.99 during midday trading on Thursday, reaching $496.28. The company had a trading volume of 1,514,537 shares, compared to its average volume of 1,476,719. 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 50 day moving average price of $449.95 and a 200 day moving average price of $419.37. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a market capitalization of $135.16 billion, a PE ratio of 22.00, a P/E/G ratio of 2.17 and a beta of 0.98.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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%. Analysts anticipate that Deere & Company will post 19.3 earnings per share for the current year.
Deere & Company Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, December 31st. This is an increase from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.31%. Deere & Company's payout ratio is currently 28.72%.
Insider Transactions at Deere & Company
In other Deere & Company 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 completion of the sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company's stock.
Deere & Company 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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