LGT Fund Management Co Ltd. Purchases 167 Shares of Deere & Company (NYSE:DE)

LGT Fund Management Co Ltd. increased its position in Deere & Company (NYSE:DE) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,054 shares of the industrial products company’s stock after purchasing an additional 167 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Deere & Company were worth $447,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC lifted its holdings in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on 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 transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial restated a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Citigroup upped their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $457.22.

Deere & Company Stock Down 3.2 %

Shares of NYSE DE opened at $465.37 on Tuesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The firm’s 50 day moving average price is $457.61 and its 200 day moving average price is $427.33. The firm has a market cap of $126.74 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. 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 (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. As a group, sell-side analysts anticipate 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. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. Deere & Company’s payout ratio is 28.72%.

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.