Greenline Partners LLC Grows Holdings in Deere & Company (NYSE:DE)

Greenline Partners LLC raised its position in Deere & Company (NYSE:DE) by 123.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,961 shares of the industrial products company’s stock after buying an additional 3,289 shares during the period. Greenline Partners LLC’s holdings in Deere & Company were worth $2,526,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pineridge Advisors LLC boosted its position in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. YANKCOM Partnership purchased a new position in shares of Deere & Company in the 4th quarter worth about $34,000. Synergy Asset Management LLC bought a new position in Deere & Company during the fourth quarter valued at about $35,000. Sierra Ocean LLC purchased a new stake in Deere & Company during the fourth quarter worth about $44,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Deere & Company in the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DE shares. Morgan Stanley raised their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Citigroup decreased their target price on Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Oppenheimer upped their price target on Deere & Company from $510.00 to $513.00 and gave the company an “outperform” rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $460.21.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $492.33 on Friday. The stock has a market cap of $133.63 billion, a P/E ratio of 21.82, a PEG 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. The business’s 50-day moving average price is $465.80 and its two-hundred day moving average price is $450.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. As a group, equities analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

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