7,420 Shares in Deere & Company (NYSE:DE) Acquired by Stenger Family Office LLC

Stenger Family Office LLC acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,420 shares of the industrial products company's stock, valued at approximately $3,144,000. Deere & Company accounts for about 1.1% of Stenger Family Office LLC's investment portfolio, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Deere & Company in the fourth quarter worth $1,244,094,000. FMR LLC increased its position in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $296,232,000. Proficio Capital Partners LLC grew its stake in Deere & Company by 52,200.3% in the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock worth $224,920,000 after purchasing an additional 529,833 shares in the last quarter. Finally, Strategic Wealth Investment Group LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $148,359,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE:DE traded down $0.36 during mid-day trading on Friday, reaching $452.06. 1,044,813 shares of the stock were exchanged, compared to its average volume of 1,426,154. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The business has a fifty day moving average price of $469.77 and a 200 day moving average price of $444.52. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The firm has a market capitalization of $122.70 billion, a PE ratio of 20.04, a PEG ratio of 2.14 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last announced 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 net margin of 12.94% and a return on equity of 27.31%. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders 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 dividend payout ratio is presently 28.72%.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was 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 of the company's stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the topic of several research reports. Evercore ISI upped their price target on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. StockNews.com cut Deere & Company from a "hold" rating to a "sell" rating in a research report on Sunday, April 6th. UBS Group lowered their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Robert W. Baird reissued a "neutral" rating and set a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $459.89.

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.