Deere & Company (NYSE:DE) Shares Bought by LRI Investments LLC

LRI Investments LLC increased its holdings in Deere & Company (NYSE:DE) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,442 shares of the industrial products company’s stock after buying an additional 26 shares during the period. LRI Investments LLC’s holdings in Deere & Company were worth $1,035,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 60.5% during 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. YANKCOM Partnership purchased a new position in Deere & Company during the fourth quarter worth $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company during the fourth quarter worth $35,000. Sierra Ocean LLC acquired a new position in shares of Deere & Company in the fourth quarter worth $44,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $48,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE opened at $492.33 on Monday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a 50 day moving average of $465.80 and a two-hundred day moving average of $451.49. The company has a market cap of $133.63 billion, a P/E ratio of 21.82, a P/E/G ratio of 2.14 and a beta of 1.08. 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 posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Analysts Set New Price Targets

A number of analysts recently commented on DE shares. Robert W. Baird reiterated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Citigroup decreased their price objective on Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Evercore ISI upped their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $460.21.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

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.