Caxton Associates LP Makes New Investment in Deere & Company (NYSE:DE)

Caxton Associates LP bought a new position in Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 616 shares of the industrial products company's stock, valued at approximately $261,000.

Several other hedge funds also recently made changes to their positions in DE. Norges Bank acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $1,244,094,000. Price T Rowe Associates Inc. MD boosted its position in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. FMR LLC boosted its position 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 valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Raymond James Financial Inc. acquired a new position in Deere & Company during the 4th quarter valued at approximately $296,232,000. Finally, Proficio Capital Partners LLC boosted its position in Deere & Company by 52,200.3% during 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 during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. Evercore ISI lifted their target price 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. Argus set a $510.00 target price on Deere & Company in a research note on Friday, March 7th. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Truist Financial reaffirmed a "buy" rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Oppenheimer lifted their target price on Deere & Company from $510.00 to $513.00 and gave the company an "outperform" rating in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $460.21.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction dated 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 directly owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This represents a 24.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.

Deere & Company Stock Performance

Deere & Company stock traded up $3.14 during midday trading on Tuesday, reaching $498.76. 590,394 shares of the company's stock were exchanged, compared to its average volume of 1,414,459. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a market cap of $135.37 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 2.14 and a beta of 1.08. The stock's 50-day simple moving average is $466.33 and its 200 day simple moving average is $452.10. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05.

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

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were issued a dividend of $1.62 per share. The ex-dividend date was Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.30%. Deere & Company's dividend payout ratio is currently 28.72%.

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.