Leigh Baldwin & CO. LLC Purchases New Shares in Deere & Company (NYSE:DE)

Leigh Baldwin & CO. LLC bought a new stake in Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 603,459 shares of the industrial products company's stock, valued at approximately $255,686,000. Deere & Company accounts for 1.3% of Leigh Baldwin & CO. LLC's investment portfolio, making the stock its 19th biggest holding. Leigh Baldwin & CO. LLC owned approximately 0.22% of Deere & Company as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Deere & Company during the fourth quarter worth about $1,244,094,000. Castlekeep Investment Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $541,437,000. Price T Rowe Associates Inc. MD boosted its stake in Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after buying an additional 1,095,736 shares during the last quarter. FMR LLC boosted its stake in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after buying an additional 1,039,395 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Deere & Company during the fourth quarter worth $296,232,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

DE stock opened at $492.33 on Monday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market capitalization of $133.63 billion, a P/E ratio of 21.82, a P/E/G ratio of 2.14 and a beta of 1.08. The business's 50-day moving average is $465.80 and its two-hundred day moving average is $451.49. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Monday, March 31st. Deere & Company's dividend payout ratio is presently 28.72%.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on 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 sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

DE has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Morgan Stanley upped their price objective on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Oppenheimer upped their price objective on Deere & Company from $510.00 to $513.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Truist Financial reiterated 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. Finally, UBS Group decreased their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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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