Miller Financial Services LLC Invests $476,000 in Deere & Company (NYSE:DE)

Miller Financial Services LLC bought a new stake in Deere & Company (NYSE:DE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,125 shares of the industrial products company’s stock, valued at approximately $476,000.

Other institutional investors have also made changes to their positions in the company. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC bought a new stake in Deere & Company during the 4th quarter worth about $32,000. YANKCOM Partnership acquired a new position in Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Deere & Company in the 4th quarter valued at about $44,000. 68.58% of the stock is owned by institutional investors.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the 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 completion of the transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Deere & Company Stock Down 2.2 %

Shares of DE stock opened at $488.69 on Tuesday. Deere & Company has a 12-month low of $340.20 and a 12-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. The firm has a fifty day moving average of $462.49 and a 200-day moving average of $430.99. The company has a market capitalization of $132.64 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last released its 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 return on equity of 27.31% and a net margin of 12.94%. As a group, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent research reports. Citigroup boosted 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. Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Truist Financial restated a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. 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. Finally, JPMorgan Chase & Co. increased their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $460.00.

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.