Samjo Management LLC Has $2.13 Million Stake in Deere & Company (NYSE:DE)

Samjo Management LLC cut its stake in shares of Deere & Company (NYSE:DE) by 2.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,015 shares of the industrial products company’s stock after selling 120 shares during the period. Samjo Management LLC’s holdings in Deere & Company were worth $2,125,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC grew its stake in shares of Deere & Company by 0.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,695 shares of the industrial products company’s stock valued at $3,212,000 after buying an additional 55 shares in the last quarter. Royal London Asset Management Ltd. grew its position in Deere & Company by 5.7% in the third quarter. Royal London Asset Management Ltd. now owns 142,021 shares of the industrial products company’s stock worth $59,270,000 after acquiring an additional 7,609 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Deere & Company during the 3rd quarter worth $6,469,000. Worldquant Millennium Advisors LLC bought a new position in shares of Deere & Company during the 3rd quarter valued at $20,364,000. Finally, Wellington Management Group LLP lifted its stake in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $430.25 on Friday. The firm has a market capitalization of $116.78 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The firm has a 50-day moving average price of $476.55 and a 200 day moving average price of $441.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business 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 dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.51%. Deere & Company’s payout ratio is presently 28.72%.

Insider Activity

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 transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on DE. StockNews.com upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, March 29th. Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Truist Financial reiterated a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, 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. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average price target of $460.00.

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.