NewEdge Advisors LLC Purchases 1,197 Shares of Deere & Company (NYSE:DE)

NewEdge Advisors LLC grew its position in shares of Deere & Company (NYSE:DE) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,139 shares of the industrial products company’s stock after purchasing an additional 1,197 shares during the period. NewEdge Advisors LLC’s holdings in Deere & Company were worth $8,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Stenger Family Office LLC bought a new stake in Deere & Company in the 4th quarter worth approximately $3,144,000. United Capital Financial Advisors LLC raised its stake in shares of Deere & Company by 2.1% during the fourth quarter. United Capital Financial Advisors LLC now owns 55,827 shares of the industrial products company’s stock worth $23,654,000 after acquiring an additional 1,173 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $2,053,000. AGP Franklin LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at $544,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Deere & Company during the 4th quarter valued at $1,763,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DE. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. UBS Group reduced their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Truist Financial restated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $459.89.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 74,878 shares of the company’s stock, 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 can be accessed through this link. Insiders own 0.29% of the company’s stock.

Deere & Company Trading Down 0.1 %

DE opened at $452.06 on Friday. 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 52 week low of $340.20 and a 52 week high of $515.05. The stock has a market cap of $122.70 billion, a PE ratio of 20.04, a PEG ratio of 2.14 and a beta of 1.00. The business has a 50 day moving average of $469.77 and a 200-day moving average of $444.52.

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

Deere & Company Dividend Announcement

The firm 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. This represents a $6.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

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.