Fayez Sarofim & Co Buys 331,132 Shares of Deere & Company (NYSE:DE)

Fayez Sarofim & Co increased its holdings in Deere & Company (NYSE:DE) by 3,380.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,928 shares of the industrial products company’s stock after purchasing an additional 331,132 shares during the quarter. Fayez Sarofim & Co’s holdings in Deere & Company were worth $147,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Deere & Company in the 4th quarter worth approximately $1,244,094,000. FMR LLC increased its position in shares of Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Deere & Company during the fourth quarter valued at approximately $296,232,000. Proficio Capital Partners LLC lifted its position in shares of Deere & Company by 52,200.3% during the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock worth $224,920,000 after purchasing an additional 529,833 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC bought a new position in Deere & Company in the 4th quarter worth about $148,359,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $452.06 on Monday. The firm has a market cap of $122.70 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 2.14 and a beta of 1.00. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock’s fifty day simple moving average is $469.77 and its 200 day simple moving average is $444.97.

Deere & Company (NYSE:DE) last announced 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%. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Analysts Set New Price Targets

DE has been the topic of a number of analyst reports. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Morgan Stanley upped their target price on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Evercore ISI raised their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Truist Financial reiterated a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Citigroup lowered their price objective on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. One 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $459.89.

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.