54,143 Shares in Deere & Company (NYSE:DE) Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 54,143 shares of the industrial products company's stock, valued at approximately $22,940,000.

Other institutional investors have also added to or reduced their stakes in the company. Syon Capital LLC boosted its holdings in Deere & Company by 10.6% during the 4th quarter. Syon Capital LLC now owns 2,399 shares of the industrial products company's stock valued at $1,017,000 after acquiring an additional 229 shares during the period. Coppell Advisory Solutions LLC grew its position in Deere & Company by 2.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock worth $432,000 after acquiring an additional 25 shares during the last quarter. Symmetry Investments LP grew its position in Deere & Company by 535.8% during the 4th quarter. Symmetry Investments LP now owns 27,900 shares of the industrial products company's stock worth $11,821,000 after acquiring an additional 23,512 shares during the last quarter. CSM Advisors LLC grew its position in Deere & Company by 14.4% during the 4th quarter. CSM Advisors LLC now owns 33,657 shares of the industrial products company's stock worth $14,261,000 after acquiring an additional 4,239 shares during the last quarter. Finally, Ironvine Capital Partners LLC grew its position in Deere & Company by 0.6% during the 4th quarter. Ironvine Capital Partners LLC now owns 21,759 shares of the industrial products company's stock worth $9,219,000 after acquiring an additional 135 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 3.9 %

NYSE:DE traded up $18.19 during trading hours on Thursday, reaching $481.75. 960,089 shares of the company traded hands, compared to its average volume of 1,419,910. The stock has a market capitalization of $130.75 billion, a P/E ratio of 21.36, a P/E/G ratio of 2.14 and a beta of 1.00. The business's 50-day moving average price is $464.99 and its two-hundred day moving average price is $447.28. Deere & Company has a 1 year low of $340.20 and a 1 year 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 - Get Free Report) last posted its 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%. Analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is 28.72%.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 completion of the sale, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DE. Truist Financial restated a "buy" rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Robert W. Baird restated a "neutral" rating and set a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Oppenheimer raised their price target on Deere & Company from $510.00 to $513.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 22nd. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Evercore ISI increased their price objective on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of "Hold" and an average price target of $460.21.

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.