New Age Alpha Advisors LLC Invests $10.37 Million in Deere & Company (NYSE:DE)

New Age Alpha Advisors LLC bought a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 24,479 shares of the industrial products company’s stock, valued at approximately $10,372,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pineridge Advisors LLC increased its position in 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 buying an additional 26 shares during the period. Modus Advisors LLC bought a new position in Deere & Company during the fourth quarter worth about $32,000. YANKCOM Partnership bought a new position in Deere & Company during the fourth quarter worth about $34,000. Synergy Asset Management LLC acquired a new stake in Deere & Company in the 4th quarter worth about $35,000. Finally, Sierra Ocean LLC bought a new stake in Deere & Company in the 4th quarter valued at about $44,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.8 %

Shares of Deere & Company stock opened at $479.69 on Friday. The company has a 50-day simple moving average of $477.11 and a two-hundred day simple moving average of $438.85. The stock has a market capitalization of $130.19 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Analyst Ratings Changes

Several brokerages have weighed in on DE. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Truist Financial restated a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Evercore ISI raised their target price on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Citigroup raised their price objective on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $460.00.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 74,878 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

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.