Price T Rowe Associates Inc. MD Acquires 1,095,736 Shares of Deere & Company (NYSE:DE)

Price T Rowe Associates Inc. MD boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 19.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,589,760 shares of the industrial products company's stock after purchasing an additional 1,095,736 shares during the period. Price T Rowe Associates Inc. MD owned 2.42% of Deere & Company worth $2,792,082,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Pineridge Advisors LLC increased its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after buying an additional 26 shares in the last quarter. Modus Advisors LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership bought a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC acquired a new stake in Deere & Company in the 4th quarter valued at $44,000. Institutional investors own 68.58% of the company's stock.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on DE. Robert W. Baird reissued a "neutral" rating and set a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Truist Financial reissued a "buy" rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Argus set a $510.00 price objective on Deere & Company in a report on Friday, March 7th. UBS Group lowered their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Evercore ISI lifted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. One equities research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $460.21.

Deere & Company Stock Up 0.0 %

Deere & Company stock traded up $0.22 during midday trading on Monday, reaching $459.52. The stock had a trading volume of 253,666 shares, compared to its average volume of 1,455,082. 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 has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a fifty day moving average price of $467.21 and a two-hundred day moving average price of $446.72. The company has a market capitalization of $124.72 billion, a P/E ratio of 20.37, a PEG ratio of 2.14 and a beta of 1.00.

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 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%. As a group, equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is 28.72%.

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.