Pine Valley Investments Ltd Liability Co Raises Stock Position in Deere & Company (NYSE:DE)

Pine Valley Investments Ltd Liability Co grew its holdings in Deere & Company (NYSE:DE) by 20.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,920 shares of the industrial products company’s stock after acquiring an additional 2,041 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Deere & Company were worth $5,060,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Pineridge Advisors LLC raised its stake in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC bought a new position in Deere & Company in the 4th quarter worth approximately $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC raised its position in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’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 transaction, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DE shares. Morgan Stanley upped their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Truist Financial reissued a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Evercore ISI increased their price target on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, Oppenheimer raised their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $454.65.

Deere & Company Stock Performance

NYSE:DE opened at $484.24 on Tuesday. The firm has a market capitalization of $131.88 billion, a PE ratio of 21.46, a PEG ratio of 2.14 and a beta of 0.98. The stock’s fifty day moving average is $452.99 and its 200 day moving average is $422.92. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

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%. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio is 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.