CANADA LIFE ASSURANCE Co bought a new stake in Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,987 shares of the industrial products company's stock, valued at approximately $2,110,000.
A number of other large investors also recently added to or reduced their stakes in DE. Norges Bank purchased a new position in Deere & Company in the 4th quarter valued at approximately $1,244,094,000. FMR LLC grew its stake in Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Deere & Company during the 4th quarter worth about $296,232,000. Proficio Capital Partners LLC raised its position in Deere & Company by 52,200.3% in the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock valued at $224,920,000 after purchasing an additional 529,833 shares in the last quarter. Finally, Strategic Wealth Investment Group LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at about $148,359,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
DE has been the topic of several analyst reports. Citigroup reduced their target price on shares of Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Robert W. Baird restated a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. Morgan Stanley boosted their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Argus set a $510.00 price target on Deere & Company in a research note on Friday, March 7th. Finally, Truist Financial reaffirmed a "buy" rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and a consensus target price of $460.21.
Read Our Latest Research Report on DE
Deere & Company Price Performance
Shares of NYSE DE traded up $5.83 during midday trading on Friday, hitting $485.85. The company had a trading volume of 331,029 shares, compared to its average volume of 1,442,882. The firm has a market capitalization of $131.87 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The business has a 50-day simple moving average of $464.93 and a two-hundred day simple moving average of $447.78. 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 (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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 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 given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio is currently 28.72%.
Insider Transactions at Deere & Company
In other news, insider Rajesh Kalathur sold 24,580 shares of the firm'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 transaction, the insider now directly owns 74,878 shares of the company's stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company's stock.
About Deere & Company
(
Free Report)
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.
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