United Bank Increases Stake in Deere & Company (NYSE:DE)

United Bank increased its position in Deere & Company (NYSE:DE) by 17.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,235 shares of the industrial products company’s stock after acquiring an additional 615 shares during the quarter. United Bank’s holdings in Deere & Company were worth $1,794,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Robertson Stephens Wealth Management LLC raised its stake in shares of Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after acquiring an additional 22 shares during the last quarter. DLK Investment Management LLC boosted its position in shares of Deere & Company by 0.3% during the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after purchasing an additional 24 shares in the last quarter. Quent Capital LLC raised its position in shares of Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 24 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after buying an additional 24 shares during the period. Finally, Douglas Lane & Associates LLC increased its holdings in Deere & Company by 4.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DE. Truist Financial reissued a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Oppenheimer increased their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Citigroup upped their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $460.00.

Deere & Company Trading Down 3.0 %

Shares of NYSE:DE opened at $465.27 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’s fifty day moving average price is $477.28 and its 200-day moving average price is $439.76. 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 $126.28 billion, a P/E ratio of 20.62, a PEG ratio of 2.14 and a beta of 1.01.

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 return on equity of 27.31% and a net margin of 12.94%. Sell-side analysts expect 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. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm’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 value of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

Deere & Company 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.