Sage Mountain Advisors LLC Grows Stock Holdings in Deere & Company (NYSE:DE)

Sage Mountain Advisors LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,775 shares of the industrial products company’s stock after purchasing an additional 195 shares during the period. Sage Mountain Advisors LLC’s holdings in Deere & Company were worth $752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in DE. Pineridge Advisors LLC boosted its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter worth $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company during the fourth quarter worth $35,000. Finally, Continuum Advisory LLC grew its position in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 2.7 %

DE stock opened at $475.70 on Wednesday. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The firm has a market cap of $129.11 billion, a PE ratio of 21.09, a PEG ratio of 2.14 and a beta of 1.01. The firm’s 50 day moving average price is $463.53 and its 200-day moving average price is $431.66. 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 (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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%. On average, equities 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. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently 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. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Truist Financial reissued a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Evercore ISI upped their target price on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $460.00.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.