Paradigm Asset Management Co. LLC Acquires Shares of 3,200 Deere & Company (NYSE:DE)

Paradigm Asset Management Co. LLC acquired a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,200 shares of the industrial products company’s stock, valued at approximately $1,356,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Pineridge Advisors LLC lifted its holdings 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 in the last quarter. Modus Advisors LLC purchased a new position in Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership purchased a new position in Deere & Company in the 4th quarter valued at $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $35,000. Finally, Continuum Advisory LLC raised its holdings in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $496.28 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company has a market cap of $135.16 billion, a PE ratio of 22.00, a P/E/G ratio of 2.20 and a beta of 0.98. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The business has a 50-day simple moving average of $451.08 and a 200-day simple moving average of $419.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping 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%. On average, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.31%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio is 28.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial reiterated a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, UBS Group boosted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $454.65.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’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 completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. 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.