HM Payson & Co. Buys 27,530 Shares of Deere & Company (NYSE:DE)

HM Payson & Co. increased its position in shares of Deere & Company (NYSE:DE) by 675.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,607 shares of the industrial products company’s stock after purchasing an additional 27,530 shares during the period. HM Payson & Co.’s holdings in Deere & Company were worth $13,392,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Everence Capital Management Inc. lifted its holdings in Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after buying an additional 7,300 shares in the last quarter. Stockbridge Partners LLC grew its position in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares during the last quarter. Compass Financial Services Inc acquired a new stake in Deere & Company in the 4th quarter worth approximately $254,000. Toronto Dominion Bank boosted its stake in Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Chase Investment Counsel Corp lifted its stake in Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after acquiring an additional 1,400 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DE. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Citigroup upped their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $457.22.

Deere & Company Stock Performance

Shares of DE opened at $499.73 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 firm has a market cap of $135.63 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company’s 50 day simple moving average is $461.21 and its 200-day simple moving average is $429.44. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.30%. Deere & Company’s payout ratio is currently 28.72%.

Deere & 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.