Morey & Quinn Wealth Partners LLC Purchases Shares of 2,439 Deere & Company (NYSE:DE)

Morey & Quinn Wealth Partners LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,439 shares of the industrial products company’s stock, valued at approximately $1,033,000. Deere & Company comprises 0.9% of Morey & Quinn Wealth Partners LLC’s holdings, making the stock its 24th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. DRW Securities LLC raised its stake in shares of Deere & Company by 388.3% during the 3rd quarter. DRW Securities LLC now owns 3,086 shares of the industrial products company’s stock worth $1,288,000 after purchasing an additional 2,454 shares in the last quarter. Boston Family Office LLC increased its holdings in Deere & Company by 42.4% during the third quarter. Boston Family Office LLC now owns 1,175 shares of the industrial products company’s stock worth $490,000 after buying an additional 350 shares during the last quarter. Bank of Montreal Can lifted its stake in Deere & Company by 1.9% in the third quarter. Bank of Montreal Can now owns 376,589 shares of the industrial products company’s stock valued at $157,414,000 after acquiring an additional 6,915 shares during the last quarter. Dai ichi Life Insurance Company Ltd grew its position in shares of Deere & Company by 24.8% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 15,417 shares of the industrial products company’s stock valued at $6,434,000 after acquiring an additional 3,060 shares during the period. Finally, FMR LLC increased its stake in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

Deere & Company Stock Down 0.1 %

Shares of DE opened at $479.70 on Wednesday. The stock’s 50-day moving average price is $475.21 and its two-hundred day moving average price is $438.25. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a market capitalization of $130.20 billion, a PE ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS 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, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DE shares. Citigroup increased their price target on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Finally, Evercore ISI boosted their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.