Broadway Wealth Solutions Inc. Makes New $254,000 Investment in Deere & Company (NYSE:DE)

Broadway Wealth Solutions Inc. bought a new stake in Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 600 shares of the industrial products company’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Pineridge Advisors LLC raised its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $32,000. YANKCOM Partnership acquired a new stake in Deere & Company in the 4th quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $35,000. Finally, Continuum Advisory LLC grew its stake in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DE. 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. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. Evercore ISI boosted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, Oppenheimer raised their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $460.00.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s 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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Trading Down 0.8 %

DE opened at $479.69 on Friday. The firm’s fifty day simple moving average is $477.11 and its 200 day simple moving average is $438.85. The stock has a market capitalization of $130.19 billion, a P/E ratio of 21.26, a P/E/G 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 has a 12 month low of $340.20 and a 12 month high of $515.05.

Deere & Company (NYSE:DE) last posted 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%. As a group, research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

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