Clearbridge Investments LLC Acquires 104,628 Shares of Deere & Company (NYSE:DE)

Clearbridge Investments LLC lifted its holdings in Deere & Company (NYSE:DE) by 45.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 334,211 shares of the industrial products company’s stock after purchasing an additional 104,628 shares during the quarter. Clearbridge Investments LLC’s holdings in Deere & Company were worth $141,605,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DE. Robertson Stephens Wealth Management LLC raised its position in Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 22 shares during the last quarter. DLK Investment Management LLC grew its position in shares of Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after buying an additional 24 shares during the period. Quent Capital LLC lifted its holdings in Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after buying an additional 24 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after purchasing an additional 24 shares during the period. Finally, Douglas Lane & Associates LLC boosted its position in shares of Deere & Company by 4.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 25 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of DE opened at $465.27 on Monday. The company has a market cap of $126.28 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company’s fifty day simple moving average is $477.28 and its 200 day simple moving average is $440.12. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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%. On average, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders 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 dividend yield of 1.39%. Deere & Company’s payout ratio is 28.72%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Evercore ISI raised their target price on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Citigroup raised their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Truist Financial reissued a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. Finally, Robert W. Baird restated a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $460.00.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company 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.