Virtu Financial LLC Takes Position in Deere & Company (NYSE:DE)

Virtu Financial LLC bought a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,416 shares of the industrial products company’s stock, valued at approximately $3,989,000.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Pineridge Advisors LLC boosted its position 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 valued at $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC acquired a new position in Deere & Company during the fourth quarter worth about $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC increased its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $471.90 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. 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 stock has a market capitalization of $128.08 billion, a P/E ratio of 20.92, a PEG ratio of 2.14 and a beta of 1.01. The business has a 50 day simple moving average of $473.25 and a two-hundred day simple moving average of $436.21.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate 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, analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. Deere & Company’s dividend payout ratio is currently 28.72%.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DE. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Truist Financial restated a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Finally, Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $460.00.

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.