Canopy Partners LLC Boosts Stake in Deere & Company (NYSE:DE)

Canopy Partners LLC increased its stake in Deere & Company (NYSE:DE) by 21.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,049 shares of the industrial products company’s stock after acquiring an additional 356 shares during the period. Canopy Partners LLC’s holdings in Deere & Company were worth $868,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC boosted its holdings in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in Deere & Company in the fourth quarter worth approximately $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company during the fourth quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the fourth quarter worth approximately $35,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several 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 Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised their price target on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Oppenheimer boosted their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Truist Financial restated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $460.00.

Insider Transactions at Deere & Company

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

Deere & Company Trading Down 3.8 %

NYSE DE opened at $430.25 on Monday. The firm has a market capitalization of $116.78 billion, a PE ratio of 19.07, a P/E/G ratio of 2.14 and a beta of 1.00. The stock’s 50 day moving average is $476.55 and its 200 day moving average is $442.38. 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.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 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%. Research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is 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.