HighPoint Advisor Group LLC Acquires 443 Shares of Deere & Company (NYSE:DE)

HighPoint Advisor Group LLC lifted its holdings in Deere & Company (NYSE:DE) by 6.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,825 shares of the industrial products company’s stock after acquiring an additional 443 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Deere & Company were worth $3,669,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DE. Wellington Management Group LLP lifted its stake in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after buying an additional 31,459 shares during the period. Norges Bank bought a new stake in shares of Deere & Company in the 4th quarter valued at about $1,244,094,000. Fisher Asset Management LLC boosted its holdings in Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after acquiring an additional 160,956 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Deere & Company by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after acquiring an additional 107,544 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DE shares. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Oppenheimer upped their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Finally, Truist Financial reissued a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $460.00.

Deere & Company Stock Performance

Deere & Company stock opened at $465.27 on Monday. Deere & Company has a twelve month low of $340.20 and a twelve month 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 company has a market capitalization of $126.28 billion, a P/E ratio of 20.62, a PEG ratio of 2.14 and a beta of 1.01. The stock’s 50 day moving average is $477.28 and its 200 day moving average is $440.12.

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

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.39%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the 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 sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

About Deere & Company

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.