Brown Brothers Harriman & Co. Acquires 3,230 Shares of Deere & Company (NYSE:DE)

Brown Brothers Harriman & Co. boosted its holdings in Deere & Company (NYSE:DE) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,546 shares of the industrial products company’s stock after buying an additional 3,230 shares during the period. Brown Brothers Harriman & Co.’s holdings in Deere & Company were worth $48,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% in 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 position in Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership bought a new position in Deere & Company in the 4th quarter valued at $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at $35,000. Finally, Continuum Advisory LLC increased its holdings in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the period. Institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’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 completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several recent analyst reports. Citigroup boosted their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Truist Financial reissued a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. StockNews.com raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Oppenheimer raised their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $460.00.

Deere & Company Trading Down 3.0 %

Shares of DE opened at $465.27 on Friday. The stock has a market capitalization 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 has a twelve month low of $340.20 and a twelve 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 simple moving average of $477.28 and a two-hundred day simple moving average of $439.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate 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, research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 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.