Pine Valley Investments Ltd Liability Co Increases Position in Deere & Company (NYSE:DE)

Pine Valley Investments Ltd Liability Co raised its holdings in shares of Deere & Company (NYSE:DE) by 20.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,920 shares of the industrial products company’s stock after purchasing an additional 2,041 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Deere & Company were worth $5,060,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DE. Pineridge Advisors LLC increased its position 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 stake in shares of Deere & Company in the fourth quarter worth $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company during the fourth quarter valued at $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at $35,000. Finally, Continuum Advisory LLC raised its position 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 purchasing an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE DE opened at $484.24 on Tuesday. The company has a 50-day moving average price of $452.99 and a 200-day moving average price of $422.92. Deere & Company has a 52 week low of $340.20 and a 52 week 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 market capitalization of $131.88 billion, a P/E ratio of 21.46, a PEG ratio of 2.14 and a beta of 0.98.

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%. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.34%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio is 28.72%.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the 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 of the company’s stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

DE has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Truist Financial reiterated a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Finally, StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus target price of $454.65.

Deere & 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.