Graham Capital Management L.P. lifted its position in Deere & Company (NYSE:DE - Free Report) by 69.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,200 shares of the industrial products company's stock after buying an additional 904 shares during the period. Graham Capital Management L.P.'s holdings in Deere & Company were worth $932,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after purchasing an additional 26 shares during the last quarter. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $35,000. Sierra Ocean LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $44,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Insider Activity at Deere & Company
In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.
Deere & Company Trading Up 3.0%
DE stock traded up $15.47 during mid-day trading on Friday, hitting $531.79. 2,322,036 shares of the company were exchanged, compared to its average volume of 1,417,561. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $144.34 billion, a P/E ratio of 23.57, a PEG ratio of 2.14 and a beta of 1.08. The business has a fifty day simple moving average of $468.29 and a 200-day simple moving average of $454.33. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were issued a $1.62 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.22%. Deere & Company's dividend payout ratio (DPR) is 28.72%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on DE. Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. Bank of America boosted their target price on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday. Truist Financial boosted their target price on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, UBS Group reduced their price objective on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $495.00.
Get Our Latest Stock Analysis on Deere & Company
About Deere & Company
(
Free Report)
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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