Intact Investment Management Inc. Increases Stock Position in Deere & Company (NYSE:DE)

Intact Investment Management Inc. boosted its stake in Deere & Company (NYSE:DE) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900 shares of the industrial products company’s stock after purchasing an additional 780 shares during the quarter. Intact Investment Management Inc.’s holdings in Deere & Company were worth $1,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of DE. Pineridge Advisors LLC raised its stake in Deere & Company by 60.5% in the fourth 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 purchased a new stake in Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership purchased a new stake in Deere & Company in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC raised its stake in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on 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 sale, the insider now owns 74,878 shares in the company, 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 SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on DE shares. Truist Financial reissued a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Citigroup lifted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley lifted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Argus set a $510.00 price target on shares of Deere & Company in a research note on Friday, March 7th. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $460.00.

Deere & Company Stock Performance

NYSE:DE opened at $478.67 on Friday. The stock has a market cap of $129.92 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The firm’s fifty day simple moving average is $466.59 and its 200 day simple moving average is $432.84. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its quarterly earnings results 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 predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

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.