67,155 Shares in Deere & Company (NYSE:DE) Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA purchased a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 67,155 shares of the industrial products company’s stock, valued at approximately $28,454,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Pineridge Advisors LLC increased 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 acquiring an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new position in Deere & Company during the fourth quarter valued at approximately $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company in the fourth quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth $35,000. Finally, Continuum Advisory LLC raised its position in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE:DE opened at $430.25 on Monday. The firm has a market capitalization of $116.78 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 2.14 and a beta of 1.00. 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 business has a 50 day simple moving average of $476.55 and a 200-day simple moving average of $442.38. 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 quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred 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 approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on DE shares. Evercore ISI upped their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Citigroup upped 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. Argus set a $510.00 target price on Deere & Company in a research note on Friday, March 7th. Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Truist Financial reiterated a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.