FourThought Financial Partners LLC Buys Shares of 1,355 Deere & Company (NYSE:DE)

FourThought Financial Partners LLC bought a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,355 shares of the industrial products company’s stock, valued at approximately $574,000.

Several other large investors have also modified their holdings of DE. Assenagon Asset Management S.A. raised its stake in shares of Deere & Company by 12.0% during the third quarter. Assenagon Asset Management S.A. now owns 8,680 shares of the industrial products company’s stock valued at $3,622,000 after acquiring an additional 927 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Deere & Company by 2.8% in the third quarter. Nisa Investment Advisors LLC now owns 97,859 shares of the industrial products company’s stock worth $40,983,000 after buying an additional 2,655 shares in the last quarter. Wells Trecaso Financial Group LLC bought a new position in Deere & Company in the third quarter worth approximately $222,000. Fortitude Family Office LLC increased its position in shares of Deere & Company by 160.9% during the third quarter. Fortitude Family Office LLC now owns 1,187 shares of the industrial products company’s stock worth $495,000 after purchasing an additional 732 shares in the last quarter. Finally, Bay Rivers Group increased its position in shares of Deere & Company by 172.2% during the third quarter. Bay Rivers Group now owns 5,974 shares of the industrial products company’s stock worth $2,493,000 after purchasing an additional 3,779 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Deere & Company Trading Up 0.6 %

DE opened at $487.52 on Wednesday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company’s 50 day simple moving average is $453.87 and its two-hundred day simple moving average is $423.91. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The firm has a market capitalization of $132.78 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results 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 net margin of 12.94% and a return on equity of 27.31%. Analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.33%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DE shares. JPMorgan Chase & Co. upped their price target on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Evercore ISI boosted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Truist Financial reissued a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $454.65.

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.