Tradewinds LLC. Increases Stake in Deere & Company (NYSE:DE)

Tradewinds LLC. increased its holdings in Deere & Company (NYSE:DE) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,820 shares of the industrial products company’s stock after acquiring an additional 1,006 shares during the quarter. Deere & Company makes up about 1.9% of Tradewinds LLC.’s investment portfolio, making the stock its 14th largest position. Tradewinds LLC.’s holdings in Deere & Company were worth $6,703,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its stake in shares of Deere & Company by 14.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,471 shares of the industrial products company’s stock worth $4,370,000 after purchasing an additional 1,300 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Deere & Company in the 3rd quarter worth approximately $27,961,000. Erste Asset Management GmbH purchased a new stake in Deere & Company during the third quarter valued at approximately $6,790,000. Aureus Asset Management LLC acquired a new stake in Deere & Company in the third quarter valued at approximately $5,327,000. Finally, Benjamin Edwards Inc. increased its position in shares of Deere & Company by 125.7% during the third quarter. Benjamin Edwards Inc. now owns 31,406 shares of the industrial products company’s stock worth $13,153,000 after purchasing an additional 17,490 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 1.1 %

Shares of DE opened at $470.31 on Tuesday. 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 firm has a market cap of $127.65 billion, a P/E ratio of 20.85, a PEG ratio of 2.14 and a beta of 1.01. The stock’s 50 day moving average is $477.56 and its two-hundred day moving average is $440.70. Deere & Company has a 12 month low of $340.20 and a 12 month 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 (EPS) for the quarter, beating 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%. Analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued 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 yield of 1.38%. Deere & Company’s payout ratio is currently 28.72%.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents 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 link. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on DE shares. Citigroup boosted their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. Finally, Truist Financial reissued a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target 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.