Nixon Capital LLC Takes $1.94 Million Position in Deere & Company (NYSE:DE)

Nixon Capital LLC bought a new stake in Deere & Company (NYSE:DE) in the 4th quarter, HoldingsChannel.com reports. The firm bought 4,215 shares of the industrial products company’s stock, valued at approximately $1,944,000. Deere & Company makes up 0.6% of Nixon Capital LLC’s investment portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Zacks Investment Management grew its stake in Deere & Company by 22.7% in the third quarter. Zacks Investment Management now owns 2,235 shares of the industrial products company’s stock valued at $933,000 after acquiring an additional 413 shares during the period. MML Investors Services LLC lifted its holdings in shares of Deere & Company by 6.4% in the 3rd quarter. MML Investors Services LLC now owns 56,788 shares of the industrial products company’s stock worth $23,699,000 after purchasing an additional 3,437 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Deere & Company by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 79,478 shares of the industrial products company’s stock valued at $33,169,000 after purchasing an additional 3,860 shares during the period. Geller Advisors LLC increased its stake in Deere & Company by 6.1% during the 3rd quarter. Geller Advisors LLC now owns 770 shares of the industrial products company’s stock valued at $322,000 after purchasing an additional 44 shares in the last quarter. Finally, Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $422.15 on Tuesday. The firm’s 50 day moving average is $475.31 and its 200 day moving average is $442.47. The stock has a market capitalization of $114.58 billion, a P/E ratio of 18.71, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. 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 posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.54%. Deere & Company’s dividend payout ratio is currently 28.72%.

Insider Buying and Selling 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 completion of the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Truist Financial reissued a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Oppenheimer lifted their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Citigroup lifted their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $458.84.

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.