SevenBridge Financial Group LLC Grows Stock Position in Deere & Company (NYSE:DE)

SevenBridge Financial Group LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 16.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,177 shares of the industrial products company’s stock after purchasing an additional 721 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Deere & Company were worth $2,193,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Everence Capital Management Inc. raised its holdings in Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after acquiring an additional 7,300 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Deere & Company in the 4th quarter valued at $254,000. Toronto Dominion Bank raised its holdings in shares of Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Czech National Bank grew its stake in shares of Deere & Company by 5.7% during the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after purchasing an additional 2,964 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Deere & Company during the third quarter worth $86,337,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.9 %

Shares of Deere & Company stock opened at $478.42 on Wednesday. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company has a market cap of $129.85 billion, a P/E ratio of 21.21, a PEG 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 firm has a fifty day moving average of $477.87 and a two-hundred day moving average of $441.29.

Deere & Company (NYSE:DE) last released 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 return on equity of 27.31% and a net margin of 12.94%. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 completion of the transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Evercore ISI upped their price target on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. 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. Finally, Argus set a $510.00 price objective on shares of Deere & Company in a research report on Friday, March 7th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $460.00.

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.