Parallel Advisors LLC Has $1.26 Million Stock Position in Deere & Company (NYSE:DE)

Parallel Advisors LLC lifted its stake in Deere & Company (NYSE:DE) by 1.5% during the 4th quarter, HoldingsChannel reports. The fund owned 2,975 shares of the industrial products company’s stock after buying an additional 44 shares during the period. Parallel Advisors LLC’s holdings in Deere & Company were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pineridge Advisors LLC boosted its stake in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new stake in Deere & Company during the fourth quarter worth $32,000. YANKCOM Partnership acquired a new stake in Deere & Company during the fourth quarter worth $34,000. Synergy Asset Management LLC acquired a new stake in Deere & Company during the fourth quarter worth $35,000. Finally, Sierra Ocean LLC acquired a new stake in Deere & Company during the fourth quarter worth $44,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’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 sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Deere & Company Stock Performance

Deere & Company stock opened at $481.21 on Wednesday. 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 has a 1 year low of $340.20 and a 1 year high of $515.05. The company has a market cap of $130.61 billion, a PE ratio of 21.33, a PEG ratio of 2.14 and a beta of 1.01. The company’s 50-day moving average is $469.24 and its two-hundred day moving average is $435.01.

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, 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%. Equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid 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 1.35%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DE. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Barclays lifted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Robert W. Baird reissued a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. Finally, 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $460.00.

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.