Deere & Company (NYSE:DE) Stock Position Boosted by Parallel Advisors LLC

Parallel Advisors LLC boosted its stake in Deere & Company (NYSE:DE) by 1.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,975 shares of the industrial products company’s stock after buying an additional 44 shares during the period. Parallel Advisors LLC’s holdings in Deere & Company were worth $1,261,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Deere & Company during the 4th quarter valued at about $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Deere & Company during the 4th quarter valued at about $44,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. 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 research report on Friday, February 14th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. UBS Group raised their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $460.00.

Deere & Company Price Performance

Shares of DE opened at $481.21 on Wednesday. The firm has a market cap of $130.61 billion, a PE ratio of 21.33, a PEG ratio of 2.14 and a beta of 1.01. The firm’s 50 day moving average price is $469.24 and its 200 day moving average price is $435.01. 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 twelve month low of $340.20 and a twelve month high of $515.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders 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 annualized dividend and a yield of 1.35%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares in the company, 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 at the SEC website. Corporate insiders own 0.29% of the company’s stock.

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.