ExodusPoint Capital Management LP Invests $5.65 Million in Deere & Company (NYSE:DE)

ExodusPoint Capital Management LP acquired a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 13,325 shares of the industrial products company’s stock, valued at approximately $5,646,000.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after acquiring an additional 97,203 shares during the period. Norges Bank acquired a new position in Deere & Company during the 4th quarter worth approximately $1,244,094,000. Fisher Asset Management LLC raised its stake in shares of Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock worth $913,334,000 after buying an additional 160,956 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Deere & Company by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after buying an additional 107,544 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Deere & Company by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,523,323 shares of the industrial products company’s stock valued at $645,432,000 after buying an additional 48,053 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction 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 represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Down 3.8 %

DE stock opened at $430.25 on Friday. The company has a 50 day moving average price of $476.55 and a two-hundred day moving average price of $442.09. 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 market capitalization of $116.78 billion, a P/E ratio of 19.07, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a one year low of $340.20 and a one year high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, sell-side analysts expect that Deere & Company will post 19.32 EPS 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 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 currently 28.72%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DE shares. Oppenheimer increased their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. StockNews.com cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Truist Financial reiterated a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One equities 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.