Deere & Company (NYSE:DE - Get Free Report) insider Rajesh Kalathur sold 24,580 shares of the company'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 transaction, the insider now owns 74,878 shares in the company, 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 legal filing with the SEC, which can be accessed through this hyperlink.
Deere & Company Stock Down 1.2 %
Shares of DE traded down $5.81 during mid-day trading on Friday, hitting $489.98. The company's stock had a trading volume of 1,102,183 shares, compared to its average volume of 1,465,614. The company's 50-day moving average is $452.07 and its 200-day moving average is $420.91. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The firm has a market capitalization of $133.45 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.20 and a beta of 0.98. 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 posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating 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%. On average, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.32%. Deere & Company's dividend payout ratio is presently 28.72%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Oppenheimer upped their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Citigroup upped their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Truist Financial restated a "buy" rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Morgan Stanley upped their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company has an average rating of "Hold" and a consensus price target of $454.65.
View Our Latest Stock Analysis on DE
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of DE. Pineridge Advisors LLC increased its stake in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new position in Deere & Company during the 4th quarter valued at approximately $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $35,000. Institutional investors and hedge funds own 68.58% of the company's stock.
About Deere & Company
(
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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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