Geode Capital Management LLC Grows Stock Holdings in Deere & Company (NYSE:DE)

Geode Capital Management LLC lifted its stake in Deere & Company (NYSE:DE) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,305,571 shares of the industrial products company’s stock after acquiring an additional 97,203 shares during the period. Geode Capital Management LLC’s holdings in Deere & Company were worth $2,247,216,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pineridge Advisors LLC grew its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new position in Deere & Company during the fourth quarter valued at approximately $32,000. YANKCOM Partnership bought a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC boosted its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent analyst reports. StockNews.com upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Truist Financial reaffirmed a “buy” rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $460.00.

Deere & Company Stock Up 1.1 %

Shares of NYSE:DE opened at $470.31 on Tuesday. The firm has a market capitalization of $127.65 billion, a P/E ratio of 20.85, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The stock has a 50 day moving average price of $477.56 and a 200-day moving average price of $440.70. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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%. As a group, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal 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 given 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 1.38%. Deere & Company’s dividend payout ratio is currently 28.72%.

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.