Meriwether Wealth & Planning LLC Purchases New Position in Deere & Company (NYSE:DE)

Meriwether Wealth & Planning LLC purchased a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, Holdings Channel reports. The fund purchased 1,074 shares of the industrial products company’s stock, valued at approximately $455,000.

Other large investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its position 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 purchasing an additional 26 shares during the period. Modus Advisors LLC bought a new stake in Deere & Company in the 4th quarter worth approximately $32,000. YANKCOM Partnership bought a new stake in Deere & Company in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company in the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new stake in Deere & Company in the 4th quarter worth approximately $44,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $499.73 on Monday. The company has a market capitalization of $135.63 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The firm’s 50-day moving average is $461.21 and its 200 day moving average is $430.21. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last issued 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 net margin of 12.94% and a return on equity of 27.31%. Research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.30%. Deere & Company’s payout ratio is 28.72%.

Wall Street Analyst Weigh In

A number of research firms have commented on DE. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Oppenheimer boosted their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley boosted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $457.22.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s 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 transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

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.