Fjell Capital LLC acquired a new stake in shares of Deere & Company (NYSE:DE – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,535 shares of the industrial products company’s stock, valued at approximately $1,074,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC lifted its holdings in shares of 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 buying an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership bought a new stake in Deere & Company in the fourth quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Deere & Company during the 4th quarter valued at $44,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
DE has been the subject of a number of recent research reports. Evercore ISI upped their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $454.65.
Deere & Company Price Performance
Shares of NYSE:DE opened at $487.52 on Wednesday. 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 $132.78 billion, a PE ratio of 21.61, a PEG ratio of 2.14 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. The business’s 50 day moving average is $453.87 and its 200-day moving average is $423.91.
Deere & Company (NYSE:DE – Get Free Report) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.33%. Deere & Company’s payout ratio is 28.72%.
Insiders Place Their Bets
In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction 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 transaction, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.
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.
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