Stenger Family Office LLC Acquires Shares of 7,420 Deere & Company (NYSE:DE)

Stenger Family Office LLC bought a new position in shares of Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,420 shares of the industrial products company’s stock, valued at approximately $3,144,000. Deere & Company accounts for about 1.1% of Stenger Family Office LLC’s investment portfolio, making the stock its 24th biggest position.

Other large investors also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after buying an additional 1,039,395 shares in the last quarter. Geode Capital Management LLC boosted its stake in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after purchasing an additional 97,203 shares during the last quarter. Norges Bank bought a new stake in Deere & Company during the 4th quarter worth approximately $1,244,094,000. Fisher Asset Management LLC raised its stake in shares of Deere & Company by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock worth $913,334,000 after purchasing an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock valued at $874,473,000 after purchasing an additional 107,544 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Robert W. Baird restated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Citigroup dropped their price target on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Truist Financial reaffirmed a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, UBS Group reduced their target price on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $457.26.

Deere & Company Stock Performance

Shares of DE stock opened at $461.31 on Wednesday. The firm’s 50 day moving average is $470.85 and its 200 day moving average is $443.98. The stock has a market capitalization of $125.21 billion, a P/E ratio of 20.45, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last posted its quarterly earnings results 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 return on equity of 27.31% and a net margin of 12.94%. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders 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 dividend yield of 1.40%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the 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 owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by company insiders.

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.