Spectrum Financial Alliance Ltd LLC Acquires 1,407 Shares of Deere & Company (NYSE:DE)

Spectrum Financial Alliance Ltd LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 2.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 49,613 shares of the industrial products company’s stock after purchasing an additional 1,407 shares during the quarter. Deere & Company accounts for 7.3% of Spectrum Financial Alliance Ltd LLC’s portfolio, making the stock its 6th biggest position. Spectrum Financial Alliance Ltd LLC’s holdings in Deere & Company were worth $21,021,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. MONECO Advisors LLC lifted its stake in Deere & Company by 4.8% in the fourth quarter. MONECO Advisors LLC now owns 935 shares of the industrial products company’s stock valued at $396,000 after buying an additional 43 shares during the period. Howard Capital Management Inc. increased its stake in shares of Deere & Company by 4.5% in the 4th quarter. Howard Capital Management Inc. now owns 1,705 shares of the industrial products company’s stock valued at $722,000 after acquiring an additional 74 shares during the last quarter. Fisher Funds Management LTD acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $15,985,000. Pinnacle Financial Partners Inc boosted its stake in Deere & Company by 0.4% during the 4th quarter. Pinnacle Financial Partners Inc now owns 37,427 shares of the industrial products company’s stock worth $15,715,000 after acquiring an additional 157 shares during the last quarter. Finally, Redmond Asset Management LLC acquired a new position in Deere & Company during the fourth quarter valued at approximately $758,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DE shares. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research note on Thursday. Citigroup lifted their price objective on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Truist Financial reiterated a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $454.65.

Deere & Company Trading Down 1.2 %

Shares of NYSE:DE opened at $489.98 on Friday. The company’s 50-day moving average price is $452.07 and its two-hundred day moving average price is $421.43. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock has a market capitalization of $133.45 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

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

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is presently 28.72%.

Insider Activity at Deere & Company

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

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.