Brown Brothers Harriman & Co. Purchases 3,230 Shares of Deere & Company (NYSE:DE)

Brown Brothers Harriman & Co. increased its position in Deere & Company (NYSE:DE) by 2.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 113,546 shares of the industrial products company’s stock after purchasing an additional 3,230 shares during the period. Brown Brothers Harriman & Co.’s holdings in Deere & Company were worth $48,109,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Deere & Company in the 4th quarter worth about $1,244,094,000. Wellington Management Group LLP boosted its stake in Deere & Company by 32.0% during the third 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Deere & Company in the fourth quarter worth about $296,232,000. Stockbridge Partners LLC increased its stake in shares of Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Deere & Company by 52,200.3% during the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock valued at $224,920,000 after purchasing an additional 529,833 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’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 value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Deere & Company Price Performance

NYSE DE opened at $465.27 on Friday. The stock has a market cap of $126.28 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company’s 50 day moving average is $477.28 and its two-hundred day moving average is $439.39. 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 released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current 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 paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DE shares. Oppenheimer upped 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. StockNews.com raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Truist Financial reissued a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Citigroup lifted their target price 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. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $460.00.

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.