Treasurer of the State of North Carolina Increases Position in Deere & Company (NYSE:DE)

Treasurer of the State of North Carolina lifted its position in shares of Deere & Company (NYSE:DE) by 0.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,943 shares of the industrial products company’s stock after buying an additional 520 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Deere & Company were worth $48,278,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 60.5% in the fourth 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 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 stake in shares of Deere & Company during the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 9.9 %

Shares of DE stock opened at $453.75 on Thursday. 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 company has a market capitalization of $123.15 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The business’s 50 day moving average is $471.63 and its two-hundred day moving average is $442.69. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05.

Deere & Company (NYSE:DE) last released 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 net margin of 12.94% and a return on equity of 27.31%. Equities analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced 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 is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DE shares. StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday. UBS Group decreased their price target on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research note on Monday. Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Truist Financial reiterated a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Evercore ISI lifted their target price on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $457.26.

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.