Quantessence Capital LLC Acquires New Position in Deere & Company (NYSE:DE)

Quantessence Capital LLC bought a new position in Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,110 shares of the industrial products company’s stock, valued at approximately $470,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. SkyView Investment Advisors LLC boosted its position in Deere & Company by 6.6% during the third quarter. SkyView Investment Advisors LLC now owns 1,098 shares of the industrial products company’s stock valued at $458,000 after buying an additional 68 shares during the period. Pine Valley Investments Ltd Liability Co boosted its holdings in Deere & Company by 13.9% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 9,879 shares of the industrial products company’s stock valued at $4,131,000 after acquiring an additional 1,205 shares during the period. Arvest Bank Trust Division bought a new position in Deere & Company during the 3rd quarter worth approximately $1,252,000. Wilmington Savings Fund Society FSB increased its stake in Deere & Company by 162.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,563 shares of the industrial products company’s stock worth $8,999,000 after purchasing an additional 13,334 shares during the period. Finally, Tidal Investments LLC lifted its position in Deere & Company by 56.3% in the third quarter. Tidal Investments LLC now owns 38,689 shares of the industrial products company’s stock valued at $16,146,000 after purchasing an additional 13,934 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of several analyst reports. StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday, April 6th. Oppenheimer upped 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. Morgan Stanley raised 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. JPMorgan Chase & Co. upped their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $460.21.

Deere & Company Trading Up 3.0 %

Deere & Company stock opened at $454.86 on Wednesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a market capitalization of $123.45 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The business’s fifty day simple moving average is $468.85 and its two-hundred day simple moving average is $445.27. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.