Deere & Company (NYSE:DE) Stock Position Raised by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina boosted its holdings in Deere & Company (NYSE:DE) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 113,943 shares of the industrial products company’s stock after acquiring an additional 520 shares during the period. Treasurer of the State of North Carolina’s holdings in Deere & Company were worth $48,278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Legacy Financial Advisors Inc. lifted its holdings in shares of Deere & Company by 14.5% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,639 shares of the industrial products company’s stock worth $694,000 after purchasing an additional 207 shares during the last quarter. Redwood Park Advisors LLC bought a new stake in Deere & Company in the fourth quarter valued at $93,000. Scotia Capital Inc. lifted its stake in Deere & Company by 10.0% in the fourth quarter. Scotia Capital Inc. now owns 46,886 shares of the industrial products company’s stock valued at $19,866,000 after buying an additional 4,245 shares during the last quarter. Waddell & Associates LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at $283,000. Finally, APG Asset Management N.V. grew its position in shares of Deere & Company by 448.1% during the fourth quarter. APG Asset Management N.V. now owns 178,500 shares of the industrial products company’s stock worth $73,038,000 after acquiring an additional 145,933 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. UBS Group reduced their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Sunday. Truist Financial reiterated a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. raised their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $457.26.

Deere & Company Stock Up 9.9 %

NYSE:DE opened at $453.75 on Thursday. The company has a market cap of $123.15 billion, a PE ratio of 20.11, a PEG ratio of 2.14 and a beta of 1.00. The stock has a 50-day simple moving average of $471.63 and a 200 day simple moving average of $442.69. 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.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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 return on equity of 27.31% and a net margin of 12.94%. On average, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm 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 $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.43%. 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.