Leigh Baldwin & CO. LLC Takes Position in Deere & Company (NYSE:DE)

Leigh Baldwin & CO. LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the fourth quarter, HoldingsChannel reports. The firm purchased 603,459 shares of the industrial products company’s stock, valued at approximately $255,686,000. Deere & Company comprises 1.3% of Leigh Baldwin & CO. LLC’s portfolio, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the period. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at $35,000. Sierra Ocean LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $44,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $48,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 directly owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Deere & Company Stock Up 0.5%

Deere & Company stock opened at $492.33 on Monday. The stock has a market cap of $133.63 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.14 and a beta of 1.08. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company’s 50-day moving average price is $465.80 and its two-hundred day moving average price is $451.49. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS 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, analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were paid 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 1.32%. Deere & Company’s dividend payout ratio is currently 28.72%.

Wall Street Analyst Weigh In

DE has been the topic of a number of analyst reports. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday, April 6th. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. Truist Financial restated a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Oppenheimer raised their target price on shares of Deere & Company from $510.00 to $513.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 22nd. Finally, Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $460.21.

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.