Canopy Partners LLC Raises Stock Holdings in Deere & Company (NYSE:DE)

Canopy Partners LLC grew its stake in shares of Deere & Company (NYSE:DE) by 21.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,049 shares of the industrial products company’s stock after buying an additional 356 shares during the quarter. Canopy Partners LLC’s holdings in Deere & Company were worth $868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DE. Trek Financial LLC boosted its holdings in Deere & Company by 23.1% in the fourth quarter. Trek Financial LLC now owns 3,459 shares of the industrial products company’s stock worth $1,465,000 after purchasing an additional 649 shares during the last quarter. FMR LLC boosted its stake in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after buying an additional 1,039,395 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of Deere & Company by 45.1% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 40,197 shares of the industrial products company’s stock worth $17,031,000 after buying an additional 12,500 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Deere & Company in the fourth quarter worth $135,000. Finally, Wedbush Securities Inc. lifted its holdings in Deere & Company by 2.8% in the fourth quarter. Wedbush Securities Inc. now owns 9,427 shares of the industrial products company’s stock valued at $3,994,000 after acquiring an additional 256 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’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 sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Truist Financial reiterated a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Citigroup raised their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Argus set a $510.00 price target on Deere & Company in a report on Friday, March 7th. One research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $460.00.

Deere & Company Trading Down 3.8 %

Shares of Deere & Company stock opened at $430.25 on Monday. 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 firm has a market cap of $116.78 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The business has a 50-day moving average price of $476.55 and a 200-day moving average price of $442.38.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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%. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.51%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

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.