Richwood Investment Advisors LLC Acquires 33 Shares of Deere & Company (NYSE:DE)

Richwood Investment Advisors LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,627 shares of the industrial products company’s stock after purchasing an additional 33 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Deere & Company were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Blueprint Investment Partners LLC bought a new position in Deere & Company in the 4th quarter worth $372,000. KLP Kapitalforvaltning AS acquired a new position in Deere & Company during the 4th quarter worth $68,280,000. Knights of Columbus Asset Advisors LLC lifted its position in Deere & Company by 0.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 7,565 shares of the industrial products company’s stock worth $3,205,000 after acquiring an additional 26 shares during the last quarter. AXQ Capital LP acquired a new position in Deere & Company during the 4th quarter worth $292,000. Finally, Umpqua Bank lifted its position in Deere & Company by 3.5% during the 4th quarter. Umpqua Bank now owns 5,049 shares of the industrial products company’s stock worth $2,183,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group lowered shares of 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 reissued a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. Oppenheimer boosted their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Robert W. Baird restated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $460.00.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $471.90 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $128.08 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The firm’s 50-day moving average price is $473.25 and its two-hundred day moving average price is $436.57.

Deere & Company (NYSE:DE) last issued 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 net margin of 12.94% and a return on equity of 27.31%. On average, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders 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 annualized dividend and a yield of 1.37%. Deere & Company’s dividend payout ratio is 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.