Morey & Quinn Wealth Partners LLC Purchases Shares of 2,439 Deere & Company (NYSE:DE)

Morey & Quinn Wealth Partners LLC acquired a new position in shares of Deere & Company (NYSE:DE) during the fourth quarter, Holdings Channel reports. The fund acquired 2,439 shares of the industrial products company’s stock, valued at approximately $1,033,000. Deere & Company accounts for approximately 0.9% of Morey & Quinn Wealth Partners LLC’s portfolio, making the stock its 24th largest holding.

Several other large investors also recently made changes to their positions in the company. Everence Capital Management Inc. grew its holdings in shares of Deere & Company by 148.3% during the fourth 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 during the last quarter. Stockbridge Partners LLC boosted its stake in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $254,000. Toronto Dominion Bank raised its stake in shares of Deere & Company by 1.5% in the third 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 during the last quarter. Finally, Czech National Bank boosted its position in shares of Deere & Company by 5.7% during the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after buying an additional 2,964 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Truist Financial reissued a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. One equities 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $460.00.

Deere & Company Trading Down 0.1 %

NYSE:DE opened at $479.70 on Wednesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The stock’s fifty day moving average price is $475.21 and its two-hundred day moving average price is $438.25. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company has a market cap of $130.20 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating 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%. As a group, 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. Stockholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction 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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by company 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.