Canada Pension Plan Investment Board Boosts Holdings in Deere & Company (NYSE:DE)

Canada Pension Plan Investment Board grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,942 shares of the industrial products company's stock after purchasing an additional 1,923 shares during the quarter. Canada Pension Plan Investment Board's holdings in Deere & Company were worth $8,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Pineridge Advisors LLC raised its position in shares of Deere & Company by 60.5% during 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 last quarter. Modus Advisors LLC acquired a new stake in Deere & Company during the 4th quarter valued at approximately $32,000. YANKCOM Partnership bought a new position in Deere & Company during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at $44,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 1.2 %

Shares of DE stock traded down $5.59 during trading hours on Friday, reaching $458.92. The company had a trading volume of 983,357 shares, compared to its average volume of 1,423,235. The company has a market cap of $124.56 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The business has a fifty day simple moving average of $467.21 and a 200-day simple moving average of $446.72.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly 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 return on equity of 27.31% and a net margin of 12.94%. On average, research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DE shares. Robert W. Baird reissued a "neutral" rating and set a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. Evercore ISI boosted their price objective on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Truist Financial restated a "buy" rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a report on Sunday, April 6th. Finally, Morgan Stanley raised their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of "Hold" and a consensus price target of $460.21.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by 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.