E Fund Management Co. Ltd. Makes New $267,000 Investment in Deere & Company (NYSE:DE)

E Fund Management Co. Ltd. purchased a new position in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 630 shares of the industrial products company’s stock, valued at approximately $267,000.

Other institutional investors also recently added to or reduced their stakes in the company. Pineridge Advisors LLC increased its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC bought a new position in Deere & Company in the 4th quarter worth approximately $32,000. YANKCOM Partnership bought a new position in Deere & Company in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC bought a new position in Deere & Company in the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new position in Deere & Company in the 4th quarter worth approximately $44,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Deere & Company stock opened at $499.73 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a market cap of $135.63 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.14 and a beta of 1.01. The business’s fifty day moving average is $461.21 and its two-hundred day moving average is $429.83. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping 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 research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

Insiders Place Their Bets

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 transaction, the insider now 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 legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DE shares. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird restated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Truist Financial restated a “buy” rating and set a $546.00 price objective (down 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 given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus target price of $457.22.

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.