South Plains Financial Inc. purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,991 shares of the industrial products company's stock, valued at approximately $844,000.
A number of other institutional investors and hedge funds have also bought and sold shares of DE. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC bought a new position in shares of Deere & Company in the 4th quarter worth approximately $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company during the fourth quarter valued at approximately $35,000. Finally, Sierra Ocean LLC purchased a new stake in Deere & Company during the fourth quarter valued at approximately $44,000. 68.58% of the stock is currently owned by institutional investors.
Deere & Company Trading Down 0.6 %
Shares of NYSE:DE traded down $2.81 during trading on Tuesday, reaching $478.53. 318,066 shares of the company were exchanged, compared to its average volume of 1,410,681. The business's fifty day simple moving average is $464.87 and its 200-day simple moving average is $449.41. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The firm has a market capitalization of $129.88 billion, a PE ratio of 21.16, a P/E/G ratio of 2.14 and a beta of 1.08.
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 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%. On average, research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.
Insider Transactions at Deere & Company
In other Deere & Company 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 value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.
Analyst Upgrades and Downgrades
DE has been the subject of a number of recent research reports. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. UBS Group cut their price target 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. Truist Financial reiterated a "buy" rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $460.21.
Check Out Our Latest Stock Report on DE
Deere & Company Profile
(
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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