QRG Capital Management Inc. Purchases 2,569 Shares of Deere & Company (NYSE:DE)

QRG Capital Management Inc. boosted its position in Deere & Company (NYSE:DE) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,539 shares of the industrial products company’s stock after acquiring an additional 2,569 shares during the period. QRG Capital Management Inc.’s holdings in Deere & Company were worth $13,787,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its holdings 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 acquiring an additional 26 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $32,000. YANKCOM Partnership bought a new stake in shares of Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $35,000. Finally, Continuum Advisory LLC boosted its stake in shares of Deere & Company by 155.8% during 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. Institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other 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 sale, the insider now directly 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 SEC, which is available through this link. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Citigroup lifted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. Finally, Truist Financial reissued a “buy” rating and set a $546.00 price target (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, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $454.65.

Deere & Company Stock Up 0.5 %

Shares of Deere & Company stock opened at $480.69 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 stock has a market capitalization of $130.92 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a 50-day simple moving average of $456.00 and a two-hundred day simple moving average of $424.69.

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

Deere & Company Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is presently 28.72%.

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.