Halbert Hargrove Global Advisors LLC Purchases New Position in Deere & Company (NYSE:DE)

Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 114 shares of the industrial products company’s stock, valued at approximately $48,000.

Other institutional investors also recently modified their holdings of the company. Everence Capital Management Inc. lifted its stake in shares of Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after buying an additional 7,300 shares in the last quarter. Stockbridge Partners LLC lifted its stake in Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares in the last quarter. Compass Financial Services Inc purchased a new stake in Deere & Company in the 4th quarter worth approximately $254,000. Toronto Dominion Bank lifted its stake in Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Chase Investment Counsel Corp lifted its stake in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DE shares. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Barclays increased their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial reiterated 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. Finally, Evercore ISI raised their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $454.65.

Insider Activity 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 shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade 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 the SEC website. 0.29% of the stock is owned by insiders.

Deere & Company Price Performance

DE stock opened at $480.25 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The firm’s fifty day moving average is $456.95 and its 200 day moving average is $426.15. The firm has a market cap of $130.80 billion, a P/E ratio of 21.29, a P/E/G ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its 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 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced 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. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

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.