Stenger Family Office LLC Makes New Investment in Deere & Company (NYSE:DE)

Stenger Family Office LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 7,420 shares of the industrial products company’s stock, valued at approximately $3,144,000. Deere & Company makes up approximately 1.1% of Stenger Family Office LLC’s holdings, making the stock its 24th largest position.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC increased its stake in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC lifted its position in Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after buying an additional 97,203 shares during the last quarter. Norges Bank purchased a new stake in Deere & Company in the fourth quarter worth approximately $1,244,094,000. Fisher Asset Management LLC grew its position in Deere & Company by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after acquiring an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Deere & Company by 5.5% during the fourth 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 in the last quarter. 68.58% of the stock is owned by institutional investors.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was 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 owns 74,878 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $461.31 on Wednesday. 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. The company has a market capitalization of $125.21 billion, a P/E ratio of 20.45, a PEG ratio of 2.14 and a beta of 1.00. The stock’s 50 day moving average is $470.85 and its 200 day moving average is $443.98.

Deere & Company (NYSE:DE) last released its 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 research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.40%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Robert W. Baird reissued a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their price target on 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 previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Evercore ISI upped their target price on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $457.26.

About Deere & Company

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.