Peapack Gladstone Financial Corp Decreases Holdings in Deere & Company (NYSE:DE)

Peapack Gladstone Financial Corp decreased its position in Deere & Company (NYSE:DE) by 2.5% in the 4th quarter, Holdings Channel reports. The fund owned 21,296 shares of the industrial products company’s stock after selling 539 shares during the period. Peapack Gladstone Financial Corp’s holdings in Deere & Company were worth $9,022,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DE. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at $32,000. YANKCOM Partnership bought a new position in Deere & Company during the 4th quarter valued at $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter worth $35,000. Finally, Continuum Advisory LLC increased its position in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was 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 of the company’s stock, 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 SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Deere & Company Stock Performance

DE stock opened at $430.25 on Monday. The company has a 50-day simple moving average of $476.55 and a 200 day simple moving average of $442.38. The company has a market capitalization of $116.78 billion, a P/E ratio of 19.07, a PEG ratio of 2.14 and a beta of 1.00. 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 has a fifty-two week low of $340.20 and a fifty-two week high of $515.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DE shares. Citigroup increased their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Oppenheimer lifted their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Robert W. Baird reissued a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Truist Financial reissued a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus target price of $460.00.

Deere & Company 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.