34,953 Shares in Deere & Company (NYSE:DE) Bought by Nearwater Capital Markets Ltd

Nearwater Capital Markets Ltd purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 34,953 shares of the industrial products company's stock, valued at approximately $14,810,000.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Pineridge Advisors LLC lifted its holdings in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after buying an additional 26 shares during the period. YANKCOM Partnership purchased a new stake in Deere & Company in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $35,000. Sierra Ocean LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $44,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $48,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 3.0%

DE stock traded up $15.47 on Friday, reaching $531.79. 2,322,036 shares of the company traded hands, compared to its average volume of 1,417,561. Deere & Company has a one year low of $340.20 and a one year high of $533.78. 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 company has a market cap of $144.34 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The firm has a fifty day simple moving average of $468.29 and a 200-day simple moving average of $454.33.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company's payout ratio is 28.72%.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The stock was 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 owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This trade represents a 24.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday. Truist Financial increased their price objective on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday. Argus set a $510.00 target price on Deere & Company in a research note on Friday, March 7th. UBS Group lowered their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Citigroup lowered their target price on Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and an average price target of $495.00.

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.