New Age Alpha Advisors LLC Acquires New Shares in Deere & Company (NYSE:DE)

New Age Alpha Advisors LLC bought a new position in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,479 shares of the industrial products company’s stock, valued at approximately $10,372,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Townsquare Capital LLC grew its position in Deere & Company by 26.2% in the third quarter. Townsquare Capital LLC now owns 6,354 shares of the industrial products company’s stock worth $2,652,000 after acquiring an additional 1,319 shares in the last quarter. Blueshift Asset Management LLC increased its position in Deere & Company by 41.1% during the third quarter. Blueshift Asset Management LLC now owns 1,973 shares of the industrial products company’s stock worth $823,000 after buying an additional 575 shares during the last quarter. Providence Capital Advisors LLC raised its holdings in Deere & Company by 1.1% during the third quarter. Providence Capital Advisors LLC now owns 14,197 shares of the industrial products company’s stock valued at $5,925,000 after buying an additional 151 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Deere & Company by 5.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 126,790 shares of the industrial products company’s stock valued at $52,913,000 after buying an additional 6,210 shares in the last quarter. Finally, De Lisle Partners LLP lifted its position in shares of Deere & Company by 15.0% in the third quarter. De Lisle Partners LLP now owns 11,500 shares of the industrial products company’s stock worth $4,799,000 after buying an additional 1,500 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.8 %

DE stock opened at $479.69 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. 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 $477.11 and its 200-day moving average is $438.85. The firm has a market cap of $130.19 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last announced its quarterly 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 return on equity of 27.31% and a net margin of 12.94%. Equities 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 disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Oppenheimer boosted their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Robert W. Baird reissued a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Finally, Truist Financial reissued a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $460.00.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

About Deere & Company

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.