Proficio Capital Partners LLC Has $224.92 Million Position in Deere & Company (NYSE:DE)

Proficio Capital Partners LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 52,200.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530,848 shares of the industrial products company’s stock after buying an additional 529,833 shares during the period. Proficio Capital Partners LLC owned about 0.19% of Deere & Company worth $224,920,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after purchasing an additional 31,459 shares in the last quarter. FMR LLC boosted its stake in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Deere & Company by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock valued at $874,473,000 after purchasing an additional 107,544 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Deere & Company by 8.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after purchasing an additional 158,732 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $478.57 on Thursday. 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 1 year low of $340.20 and a 1 year high of $515.05. The company has a market cap of $130.34 billion, a PE ratio of 21.21, a PEG ratio of 2.14 and a beta of 0.98. The company’s 50-day moving average is $454.92 and its two-hundred day moving average is $424.30.

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, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors 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%. Deere & Company’s dividend payout ratio is 28.72%.

Analysts Set New Price Targets

DE has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Evercore ISI boosted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Truist Financial restated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company 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 target price on the stock. in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price target 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $454.65.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on 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 in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by corporate 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.