Deere & Company (NYSE:DE) Shares Bought by Polar Capital Holdings Plc

Polar Capital Holdings Plc raised its position in Deere & Company (NYSE:DE) by 41.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,763 shares of the industrial products company’s stock after acquiring an additional 6,408 shares during the quarter. Polar Capital Holdings Plc’s holdings in Deere & Company were worth $9,221,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC grew its stake in shares of Deere & Company by 4.0% during the 4th quarter. SeaCrest Wealth Management LLC now owns 2,697 shares of the industrial products company’s stock worth $1,143,000 after purchasing an additional 103 shares during the period. Pines Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $218,000. Kathmere Capital Management LLC grew its stake in shares of Deere & Company by 8.8% during the 4th quarter. Kathmere Capital Management LLC now owns 1,084 shares of the industrial products company’s stock worth $459,000 after purchasing an additional 88 shares during the period. Park Avenue Securities LLC grew its stake in shares of Deere & Company by 39.1% during the 4th quarter. Park Avenue Securities LLC now owns 4,724 shares of the industrial products company’s stock worth $2,001,000 after purchasing an additional 1,328 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Deere & Company by 38.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,340 shares of the industrial products company’s stock worth $568,000 after purchasing an additional 369 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

DE opened at $516.85 on Friday. The company’s 50 day simple moving average is $467.17 and its 200 day simple moving average is $453.46. 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 has a 1 year low of $340.20 and a 1 year high of $531.54. The stock has a market capitalization of $140.28 billion, a PE ratio of 22.91, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. As a group, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company’s dividend payout ratio is presently 28.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DE. UBS Group lowered their price objective on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Evercore ISI increased their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Truist Financial reissued a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. 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. Finally, Oppenheimer increased their price objective on shares of Deere & Company from $510.00 to $513.00 and gave the company an “outperform” rating in a research note on Tuesday, April 22nd. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus target price of $462.44.

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.