Trek Financial LLC Increases Position in Deere & Company (NYSE:DE)

Trek Financial LLC lifted its position in shares of Deere & Company (NYSE:DE) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,459 shares of the industrial products company’s stock after acquiring an additional 649 shares during the quarter. Trek Financial LLC’s holdings in Deere & Company were worth $1,465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pineridge Advisors LLC grew its stake in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC raised its position in shares of Deere & Company by 155.8% during 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. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of a number of recent research reports. Argus set a $510.00 target price on shares of Deere & Company in a report on Friday, March 7th. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. 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 research note on Friday, February 14th. Truist Financial reissued 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. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $460.00.

Deere & Company Trading Down 3.8 %

NYSE:DE opened at $430.25 on Monday. The stock has a fifty day simple moving average of $476.55 and a 200 day simple moving average of $442.38. The firm has a market capitalization of $116.78 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. Deere & Company has a 1-year low of $340.20 and a 1-year 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 EPS 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%. Sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.29% of the company’s stock.

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.