ExodusPoint Capital Management LP Purchases New Stake in Deere & Company (NYSE:DE)

ExodusPoint Capital Management LP acquired a new position in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 13,325 shares of the industrial products company’s stock, valued at approximately $5,646,000.

Several other large investors also recently made changes to their positions in DE. Everence Capital Management Inc. boosted its position in Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after purchasing an additional 7,300 shares during the period. Compass Financial Services Inc acquired a new position in shares of Deere & Company during the fourth quarter worth about $254,000. Toronto Dominion Bank boosted its position in shares of Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after buying an additional 1,291 shares during the period. Czech National Bank boosted its position in shares of Deere & Company by 5.7% in the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after buying an additional 2,964 shares during the period. Finally, Banque Pictet & Cie SA grew its stake in shares of Deere & Company by 2.0% in the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock valued at $33,165,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

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 transaction, 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 document filed with the SEC, which is accessible through this link. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. Evercore ISI boosted their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Oppenheimer raised their price target 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. Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Finally, Truist Financial reissued a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. 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, the company has a consensus rating of “Hold” and a consensus target price of $460.00.

Deere & Company Stock Performance

DE stock opened at $430.25 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The stock has a market capitalization of $116.78 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The stock’s fifty day moving average is $476.55 and its two-hundred day moving average is $442.09.

Deere & Company (NYSE:DE) last issued 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 net margin of 12.94% and a return on equity of 27.31%. On average, research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a dividend of $1.62 per share. 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 1.51%. Deere & Company’s dividend payout ratio is presently 28.72%.

Deere & 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.