Pictet Asset Management Holding SA Has $87.40 Million Holdings in Deere & Company (NYSE:DE)

Pictet Asset Management Holding SA grew its stake in Deere & Company (NYSE:DE) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206,270 shares of the industrial products company’s stock after acquiring an additional 18,343 shares during the period. Pictet Asset Management Holding SA owned 0.08% of Deere & Company worth $87,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of DE. Norges Bank bought a new position in shares of Deere & Company in the 4th quarter valued at about $1,244,094,000. Wellington Management Group LLP boosted its stake in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares during the last quarter. Raymond James Financial Inc. bought a new position in Deere & Company in the fourth quarter valued at approximately $296,232,000. Proficio Capital Partners LLC grew its holdings in Deere & Company by 52,200.3% during the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock worth $224,920,000 after acquiring an additional 529,833 shares during the period. Finally, Strategic Wealth Investment Group LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $148,359,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DE. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. Evercore ISI upped their price target on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Oppenheimer lifted their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Truist Financial reaffirmed a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $460.00.

Insider Transactions at Deere & Company

In other 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 sale, the insider now 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 document filed with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

Deere & Company Stock Down 3.0 %

Shares of Deere & Company stock opened at $465.27 on Friday. The firm has a market cap of $126.28 billion, a PE ratio of 20.62, a P/E/G ratio of 2.14 and a beta of 1.01. The business’s 50 day simple moving average is $477.28 and its 200 day simple moving average is $439.76. 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 has a 52-week low of $340.20 and a 52-week 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 (EPS) 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%. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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 given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.39%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Deere & Company 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.