Homestead Advisers Corp Buys 8,100 Shares of Deere & Company (NYSE:DE)

Homestead Advisers Corp boosted its stake in Deere & Company (NYSE:DE) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,100 shares of the industrial products company’s stock after acquiring an additional 8,100 shares during the period. Deere & Company accounts for 2.2% of Homestead Advisers Corp’s investment portfolio, making the stock its 14th largest holding. Homestead Advisers Corp owned about 0.08% of Deere & Company worth $92,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Everence Capital Management Inc. boosted its position in Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after acquiring an additional 7,300 shares during the last quarter. Stockbridge Partners LLC lifted its position in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after acquiring an additional 540,874 shares during the period. Compass Financial Services Inc bought a new position in Deere & Company during the fourth quarter worth $254,000. Toronto Dominion Bank grew its holdings in Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares during the period. Finally, Czech National Bank grew its holdings in Deere & Company by 5.7% in the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after purchasing an additional 2,964 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of several research reports. Evercore ISI raised their target price 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. Robert W. Baird reissued a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Citigroup upped their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Finally, Truist Financial restated 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. One equities 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, Deere & Company currently has an average rating of “Hold” and an average target price of $460.00.

Deere & Company Trading Up 0.9 %

NYSE:DE opened at $483.48 on Thursday. The firm’s 50 day moving average is $476.30 and its 200 day moving average is $438.57. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The stock has a market capitalization of $131.22 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.34%. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s 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 sale, the insider now directly 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 document filed with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

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.