Waddell & Associates LLC purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 667 shares of the industrial products company's stock, valued at approximately $283,000.
Several other institutional investors have also modified their holdings of DE. Pineridge Advisors LLC grew 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 buying an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company during the fourth quarter worth about $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $35,000. Finally, Continuum Advisory LLC raised its position in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on DE. Evercore ISI upped their price objective on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Truist Financial reissued a "buy" rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Robert W. Baird restated a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. Finally, Citigroup dropped their price target on Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. One research 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $457.26.
View Our Latest Report on DE
Deere & Company Price Performance
Shares of NYSE:DE traded up $7.47 on Monday, reaching $466.60. 421,686 shares of the company traded hands, compared to its average volume of 1,429,193. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The stock has a market capitalization of $126.64 billion, a PE ratio of 20.68, a P/E/G ratio of 2.14 and a beta of 1.00. The company's 50 day moving average is $470.92 and its 200-day moving average is $443.51.
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 return on equity of 27.31% and a net margin of 12.94%. As a group, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.
Insider Transactions at Deere & Company
In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.
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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