Pettyjohn Wood & White Inc. Makes New $244,000 Investment in Deere & Company (NYSE:DE)

Pettyjohn Wood & White Inc. purchased a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 575 shares of the industrial products company’s stock, valued at approximately $244,000.

Other hedge funds also recently made changes to their positions in the company. Pineridge Advisors LLC grew its holdings in 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 in the last quarter. Modus Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company during the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC increased its holdings in 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. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 0.5 %

DE opened at $480.69 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. 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 business’s 50-day moving average price is $456.00 and its 200-day moving average price is $424.69. The company has a market cap of $130.92 billion, a P/E ratio of 21.31, a P/E/G ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results 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 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. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. Deere & Company’s dividend payout ratio is currently 28.72%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DE shares. Truist Financial reissued a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Jefferies Financial Group cut 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. UBS Group upped their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Evercore ISI upped their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target of $454.65.

Insider Buying and Selling at Deere & Company

In other Deere & Company 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 transaction of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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.