Tema Etfs LLC Takes $333,000 Position in Deere & Company (NYSE:DE)

Tema Etfs LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 787 shares of the industrial products company’s stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Park Avenue Securities LLC lifted its position in Deere & Company by 39.1% during the 4th quarter. Park Avenue Securities LLC now owns 4,724 shares of the industrial products company’s stock worth $2,001,000 after acquiring an additional 1,328 shares in the last quarter. Ritholtz Wealth Management lifted its position in Deere & Company by 17.5% during the 4th quarter. Ritholtz Wealth Management now owns 3,419 shares of the industrial products company’s stock worth $1,449,000 after acquiring an additional 510 shares in the last quarter. Merit Financial Group LLC lifted its position in Deere & Company by 11.8% during the 4th quarter. Merit Financial Group LLC now owns 8,464 shares of the industrial products company’s stock worth $3,586,000 after acquiring an additional 890 shares in the last quarter. Lake Street Private Wealth LLC lifted its position in Deere & Company by 19.9% during the 4th quarter. Lake Street Private Wealth LLC now owns 777 shares of the industrial products company’s stock worth $329,000 after acquiring an additional 129 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. lifted its position in Deere & Company by 5.4% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 5,998 shares of the industrial products company’s stock worth $2,541,000 after acquiring an additional 307 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

DE has been the topic of several recent research reports. Bank of America boosted their price target on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research report on Friday. Truist Financial lifted their price objective on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a report on Friday. DA Davidson restated a “buy” rating and set a $542.00 price objective on shares of Deere & Company in a report on Friday. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a report on Friday. Finally, StockNews.com upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $504.38.

Deere & Company Price Performance

Shares of NYSE DE opened at $531.79 on Monday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $144.34 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The business has a 50 day simple moving average of $468.29 and a 200-day simple moving average of $455.02.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.53 EPS. As a group, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were paid a dividend of $1.62 per share. The ex-dividend date was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.22%. Deere & Company’s payout ratio is currently 28.72%.

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.