Deere & Company (NYSE:DE) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC grew its position in Deere & Company (NYSE:DE) by 32.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,495 shares of the industrial products company’s stock after acquiring an additional 4,081 shares during the period. NEOS Investment Management LLC’s holdings in Deere & Company were worth $6,989,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DE. UniSuper Management Pty Ltd increased its position in Deere & Company by 1.4% during the 4th quarter. UniSuper Management Pty Ltd now owns 108,790 shares of the industrial products company’s stock worth $46,094,000 after purchasing an additional 1,513 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Deere & Company by 9.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 409,105 shares of the industrial products company’s stock valued at $172,732,000 after buying an additional 35,074 shares in the last quarter. Excalibur Management Corp grew its holdings in Deere & Company by 2.2% during the fourth quarter. Excalibur Management Corp now owns 2,314 shares of the industrial products company’s stock worth $980,000 after acquiring an additional 49 shares during the period. Ausdal Financial Partners Inc. raised its position in Deere & Company by 0.8% in the fourth quarter. Ausdal Financial Partners Inc. now owns 8,961 shares of the industrial products company’s stock worth $3,797,000 after acquiring an additional 68 shares in the last quarter. Finally, Morey & Quinn Wealth Partners LLC acquired a new stake in Deere & Company in the fourth quarter valued at $1,033,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by company insiders.

Deere & Company Stock Performance

Shares of DE opened at $479.69 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The company’s 50 day simple moving average is $477.11 and its 200 day simple moving average is $438.85. The company has a market capitalization of $130.19 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

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, 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, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DE shares. Argus set a $510.00 price target on shares of Deere & Company in a research note on Friday, March 7th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. upped 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, Citigroup lifted their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $460.00.

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.