Sagespring Wealth Partners LLC acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,708 shares of the industrial products company's stock, valued at approximately $1,571,000.
A number of other large investors have also modified their holdings of DE. Pineridge Advisors LLC increased its stake in shares of 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 acquiring an additional 26 shares during the period. Modus Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth about $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC acquired a new stake in Deere & Company during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Stock Performance
DE traded down $0.36 during trading on Friday, reaching $452.06. The company's stock had a trading volume of 1,044,813 shares, compared to its average volume of 1,426,699. The company's fifty day moving average price is $470.23 and its 200-day moving average price is $444.28. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a market capitalization of $122.70 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.
Deere & Company (NYSE:DE - Get Free Report) last issued its 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 net margin of 12.94% and a return on equity of 27.31%. On average, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is 28.72%.
Insider Transactions at Deere & Company
In other news, insider Rajesh Kalathur sold 24,580 shares of the firm'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 sale, the insider now owns 74,878 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on DE. Robert W. Baird reaffirmed a "neutral" rating and set a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Truist Financial reissued 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. StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a report on Sunday, April 6th. Morgan Stanley upped their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a report on Monday, February 10th. 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, the company has an average rating of "Hold" and a consensus price target of $459.89.
View Our Latest Stock Report on Deere & Company
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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