Sagespring Wealth Partners LLC Takes Position in Deere & Company (NYSE:DE)

Sagespring Wealth Partners LLC bought a new position in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,708 shares of the industrial products company’s stock, valued at approximately $1,571,000.

Several other institutional investors have also recently made changes to their positions in DE. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new position in Deere & Company during the fourth quarter valued at approximately $32,000. YANKCOM Partnership acquired a new position in Deere & Company in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 3.5 %

Shares of DE stock opened at $459.75 on Monday. 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 twelve month low of $340.20 and a twelve month high of $515.05. The company’s 50-day moving average price is $470.92 and its 200-day moving average price is $443.51. The stock has a market cap of $124.78 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.14 and a beta of 1.00.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced 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 1.41%. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Insider Activity

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 value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DE. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. StockNews.com lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday, April 6th. Truist Financial restated a “buy” rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Evercore ISI increased their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Finally, UBS Group cut their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $457.26.

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.