Wedbush Securities Inc. Has $3.99 Million Stock Holdings in Deere & Company (NYSE:DE)

Wedbush Securities Inc. raised its position in Deere & Company (NYSE:DE) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,427 shares of the industrial products company’s stock after acquiring an additional 256 shares during the period. Wedbush Securities Inc.’s holdings in Deere & Company were worth $3,994,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Integrated Wealth Concepts LLC boosted its stake in Deere & Company by 0.7% during the third quarter. Integrated Wealth Concepts LLC now owns 7,695 shares of the industrial products company’s stock worth $3,212,000 after buying an additional 55 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in Deere & Company by 5.7% in the third quarter. Royal London Asset Management Ltd. now owns 142,021 shares of the industrial products company’s stock valued at $59,270,000 after acquiring an additional 7,609 shares during the period. Weiss Asset Management LP acquired a new position in Deere & Company in the third quarter worth about $6,469,000. Worldquant Millennium Advisors LLC bought a new position in Deere & Company during the third quarter worth about $20,364,000. Finally, Wellington Management Group LLP boosted its holdings in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of several analyst reports. Oppenheimer raised their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial reissued a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Argus set a $510.00 target price on shares of Deere & Company in a report on Friday, March 7th. Jefferies Financial Group lowered 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 report on Friday, December 6th. Finally, StockNews.com raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, March 29th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $460.00.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Down 3.8 %

Shares of NYSE:DE opened at $430.25 on Friday. 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 has a market cap of $116.78 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a 50 day moving average of $476.55 and a 200-day moving average of $441.78. Deere & Company has a one year low of $340.20 and a one year high of $515.05.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. Deere & Company’s dividend payout ratio is presently 28.72%.

About Deere & Company

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.