SevenBridge Financial Group LLC Boosts Stock Position in Deere & Company (NYSE:DE)

SevenBridge Financial Group LLC raised its position in Deere & Company (NYSE:DE) by 16.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,177 shares of the industrial products company’s stock after buying an additional 721 shares during the period. SevenBridge Financial Group LLC’s holdings in Deere & Company were worth $2,193,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC acquired a new position in Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company during the 4th quarter worth $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $35,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $44,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 1.9 %

DE opened at $478.42 on Wednesday. The firm’s 50 day moving average is $477.87 and its 200-day moving average is $441.29. The firm has a market capitalization of $129.85 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 52-week low of $340.20 and a 52-week 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.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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%. Analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s dividend payout ratio is presently 28.72%.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. StockNews.com upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday, March 7th. Oppenheimer boosted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Truist Financial reaffirmed 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, Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $460.00.

Insider Activity at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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.