JPL Wealth Management LLC Purchases Shares of 8,256 Deere & Company (NYSE:DE)

JPL Wealth Management LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,256 shares of the industrial products company’s stock, valued at approximately $3,498,000.

A number of other hedge funds have also bought and sold shares of DE. Pineridge Advisors LLC increased its stake in 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 purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company in the 4th quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at $35,000. Finally, Continuum Advisory LLC boosted its holdings 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 acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred 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 in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Deere & Company Trading Down 0.8 %

Shares of DE stock opened at $471.49 on Thursday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market cap of $127.97 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a 50-day moving average of $464.49 and a two-hundred day moving average of $431.94. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. On average, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm 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 $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. Evercore ISI increased their price target 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. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Argus set a $510.00 price objective on shares of Deere & Company in a research report on Friday, March 7th. Finally, Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One 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, Deere & Company has an average rating of “Hold” and an average target price of $460.00.

Deere & 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.