Castlekeep Investment Advisors LLC Invests $541.44 Million in Deere & Company (NYSE:DE)

Castlekeep Investment Advisors LLC acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,277,879 shares of the industrial products company's stock, valued at approximately $541,437,000. Deere & Company makes up about 3.6% of Castlekeep Investment Advisors LLC's holdings, making the stock its 5th largest holding. Castlekeep Investment Advisors LLC owned about 0.47% of Deere & Company as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pineridge Advisors LLC boosted its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 26 shares during the period. YANKCOM Partnership purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company in the fourth quarter worth $35,000. Sierra Ocean LLC bought a new stake in Deere & Company during the 4th quarter valued at $44,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Deere & Company during the 4th quarter valued at $48,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 0.3 %

Shares of Deere & Company stock opened at $481.40 on Monday. The company has a 50-day simple moving average of $464.80 and a two-hundred day simple moving average of $448.90. The stock has a market capitalization of $130.66 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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%. On average, analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company's payout ratio is 28.72%.

Insider Buying and Selling

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 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 approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DE shares. Citigroup decreased their price objective 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. Oppenheimer increased their price objective on Deere & Company from $510.00 to $513.00 and gave the stock an "outperform" rating in a report on Tuesday, April 22nd. UBS Group decreased 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. Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Finally, Truist Financial restated a "buy" rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $460.21.

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.

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