RFG Bristol Wealth Advisors LLC Purchases New Position in Deere & Company (NYSE:DE)

RFG Bristol Wealth Advisors LLC acquired a new stake in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,272 shares of the industrial products company’s stock, valued at approximately $539,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pineridge Advisors LLC lifted 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 acquiring an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company in the fourth quarter valued at $34,000. Synergy Asset Management LLC acquired a new stake in Deere & Company during the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC purchased a new stake in Deere & Company during the 4th quarter worth $44,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Argus set a $510.00 target price on Deere & Company in a research note on Friday, March 7th. Evercore ISI raised their price objective on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. Truist Financial reiterated a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $460.00.

Deere & Company Trading Up 1.9 %

Shares of NYSE DE opened at $478.42 on Wednesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The company has a market cap of $129.85 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth 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. The stock’s 50 day simple moving average is $477.87 and its 200 day simple moving average is $441.29.

Deere & Company (NYSE:DE) last posted 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 return on equity of 27.31% and a net margin of 12.94%. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s payout ratio is currently 28.72%.

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.