Nearwater Capital Markets Ltd Makes New $14.81 Million Investment in Deere & Company (NYSE:DE)

Nearwater Capital Markets Ltd acquired a new stake in Deere & Company (NYSE:DE) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 34,953 shares of the industrial products company’s stock, valued at approximately $14,810,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fiduciary Alliance LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $613,000. Wedmont Private Capital boosted its position in Deere & Company by 8.1% during the fourth quarter. Wedmont Private Capital now owns 2,782 shares of the industrial products company’s stock worth $1,137,000 after purchasing an additional 209 shares during the period. BCS Wealth Management acquired a new position in shares of Deere & Company in the fourth quarter valued at $287,000. FNY Investment Advisers LLC raised its position in shares of Deere & Company by 657.1% in the fourth quarter. FNY Investment Advisers LLC now owns 5,300 shares of the industrial products company’s stock valued at $2,245,000 after purchasing an additional 4,600 shares during the period. Finally, Dale Q Rice Investment Management Ltd acquired a new stake in shares of Deere & Company during the 4th quarter worth about $791,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’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 sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on DE shares. UBS Group lowered their price target on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Truist Financial reiterated a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Robert W. Baird restated a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $460.21.

Deere & Company Trading Up 0.8%

Shares of DE stock opened at $499.81 on Wednesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The stock’s fifty day moving average price is $466.67 and its two-hundred day moving average price is $452.43. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company has a market cap of $135.66 billion, a PE ratio of 22.15, a P/E/G ratio of 2.14 and a beta of 1.08.

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

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Stockholders 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 dividend yield of 1.30%. Deere & Company’s payout ratio is currently 28.72%.

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.