Fairway Wealth LLC Takes $140,000 Position in Deere & Company (NYSE:DE)

Fairway Wealth LLC acquired a new position in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 330 shares of the industrial products company’s stock, valued at approximately $140,000.

A number of other large investors have also added to or reduced their stakes in DE. Pineridge Advisors LLC raised its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC purchased a new stake in Deere & Company during the 4th quarter valued at about $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC lifted its position in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. Truist Financial restated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Citigroup raised their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. UBS Group upped their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Oppenheimer boosted their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $460.00.

Deere & Company Stock Down 2.2 %

DE stock opened at $488.69 on Tuesday. The business has a 50 day moving average of $462.49 and a 200 day moving average of $430.99. The firm has a market cap of $132.64 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last issued its quarterly 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 return on equity of 27.31% and a net margin of 12.94%. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

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.