Napatree Capital LLC Purchases New Shares in Deere & Company (NYSE:DE)

Napatree Capital LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 706 shares of the industrial products company’s stock, valued at approximately $299,000.

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares during the period. Geode Capital Management LLC boosted its position in Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after acquiring an additional 31,459 shares during the period. FMR LLC boosted its position in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after acquiring an additional 988,380 shares during the period. Fisher Asset Management LLC boosted its position in Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock worth $913,334,000 after acquiring an additional 160,956 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Deere & Company by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after acquiring an additional 107,544 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on DE. Evercore ISI raised their price objective on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Oppenheimer raised 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. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $460.00.

Deere & Company Stock Down 1.1 %

Shares of DE stock opened at $471.90 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The firm has a market cap of $128.08 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The stock has a 50 day moving average of $473.25 and a 200-day moving average of $436.57. 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 issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 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%. On average, equities analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction 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. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by company 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.