Vanguard Group Inc. Boosts Stock Holdings in Deere & Company (NYSE:DE)

Vanguard Group Inc. lifted its stake in shares of Deere & Company (NYSE:DE) by 0.1% during the fourth quarter, Holdings Channel reports. The fund owned 21,877,919 shares of the industrial products company’s stock after acquiring an additional 20,501 shares during the period. Vanguard Group Inc. owned about 0.08% of Deere & Company worth $9,269,674,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Pineridge Advisors LLC increased its position in shares of Deere & Company by 60.5% during 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 purchased a new stake in shares of Deere & Company during the fourth quarter worth $32,000. YANKCOM Partnership purchased a new position in Deere & Company in the fourth quarter valued at $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the fourth quarter valued at $35,000. Finally, Sierra Ocean LLC purchased a new position in Deere & Company in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Price Performance

Shares of NYSE:DE opened at $471.90 on Friday. 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 company has a market cap of $128.08 billion, a P/E ratio of 20.92, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The company has a 50-day moving average price of $473.25 and a 200 day moving average price of $436.57.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DE shares. Truist Financial reissued a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. JPMorgan Chase & Co. increased their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $460.00.

About Deere & Company

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.