MQS Management LLC Purchases New Position in Deere & Company (NYSE:DE)

MQS Management LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 531 shares of the industrial products company’s stock, valued at approximately $225,000. Deere & Company accounts for approximately 6.4% of MQS Management LLC’s holdings, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of DE. Ruffer LLP boosted its stake in Deere & Company by 2.3% during the fourth quarter. Ruffer LLP now owns 186,051 shares of the industrial products company’s stock worth $78,829,000 after acquiring an additional 4,200 shares in the last quarter. Argentarii LLC bought a new stake in Deere & Company during the fourth quarter worth about $232,000. OFI Invest Asset Management bought a new stake in Deere & Company during the fourth quarter worth about $2,300,000. Personal CFO Solutions LLC boosted its stake in Deere & Company by 10.1% during the fourth quarter. Personal CFO Solutions LLC now owns 1,156 shares of the industrial products company’s stock worth $490,000 after acquiring an additional 106 shares in the last quarter. Finally, Atlantic Union Bankshares Corp boosted its stake in Deere & Company by 0.7% during the fourth quarter. Atlantic Union Bankshares Corp now owns 11,351 shares of the industrial products company’s stock worth $4,809,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the 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 completion of the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

Deere & Company Stock Up 3.5 %

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

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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 anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given 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 dividend payout ratio (DPR) is currently 28.72%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Citigroup boosted their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Truist Financial reiterated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus price target of $457.22.

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.