Deere & Company (NYSE:DE) Stock Position Lifted by AQR Capital Management LLC

AQR Capital Management LLC boosted its stake in Deere & Company (NYSE:DE - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,170 shares of the industrial products company's stock after buying an additional 7,019 shares during the quarter. AQR Capital Management LLC's holdings in Deere & Company were worth $12,783,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DE. Pineridge Advisors LLC lifted its stake in Deere & Company by 60.5% in the fourth 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 last quarter. YANKCOM Partnership bought a new position in shares of Deere & Company during the 4th quarter valued at $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at $35,000. Sierra Ocean LLC bought a new stake in Deere & Company in the fourth quarter worth $44,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Deere & Company in the fourth quarter worth $48,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DE shares. StockNews.com cut Deere & Company from a "hold" rating to a "sell" rating in a research report on Sunday, April 6th. JPMorgan Chase & Co. boosted their target price on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Oppenheimer increased their price target on Deere & Company from $510.00 to $513.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Robert W. Baird restated a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. 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 report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Deere & Company has an average rating of "Hold" and a consensus target price of $460.21.

Deere & Company Price Performance

NYSE:DE opened at $481.66 on Tuesday. 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 company has a 50-day moving average of $464.87 and a 200-day moving average of $449.41. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The company has a market capitalization of $130.73 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. As a group, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders 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 yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is 28.72%.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated 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

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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