Petros Family Wealth LLC Buys New Shares in Deere & Company $DE

Petros Family Wealth LLC purchased a new stake in shares of Deere & Company (NYSE:DEFree Report) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,304 shares of the industrial products company’s stock, valued at approximately $607,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Deere & Company in the second quarter worth about $1,578,243,000. Marshall Wace LLP grew its stake in shares of Deere & Company by 573.9% during the 2nd quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock valued at $428,597,000 after acquiring an additional 717,808 shares during the period. Van ECK Associates Corp increased its holdings in Deere & Company by 278.0% in the 3rd quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after acquiring an additional 358,687 shares in the last quarter. Invesco Ltd. increased its holdings in Deere & Company by 21.7% in the 3rd quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock worth $829,930,000 after acquiring an additional 323,512 shares in the last quarter. Finally, Capital World Investors raised its stake in Deere & Company by 5.5% during the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after acquiring an additional 322,582 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

More Deere & Company News

Here are the key news stories impacting Deere & Company this week:

Insiders Place Their Bets

In other Deere & Company news, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cory J. Reed sold 12,000 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. This trade represents a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on DE shares. DA Davidson lifted their price target on shares of Deere & Company from $580.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Zacks Research raised shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Wolfe Research raised their price objective on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Sanford C. Bernstein lifted their target price on shares of Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Sixteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $644.70.

Get Our Latest Research Report on Deere & Company

Deere & Company Trading Down 2.5%

DE stock opened at $566.78 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. Deere & Company has a 1-year low of $404.42 and a 1-year high of $674.19. The business has a 50 day simple moving average of $579.69 and a two-hundred day simple moving average of $509.35. The company has a market capitalization of $153.09 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.03 and a beta of 0.96.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter last year, the business posted $3.19 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

Deere & Company Profile

(Free Report)

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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