OV Management LLC Purchases 423 Shares of Deere & Company (NYSE:DE)

OV Management LLC grew its position in shares of Deere & Company (NYSE:DE) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,981 shares of the industrial products company’s stock after buying an additional 423 shares during the period. Deere & Company accounts for 1.0% of OV Management LLC’s investment portfolio, making the stock its 25th largest position. OV Management LLC’s holdings in Deere & Company were worth $2,110,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Deere & Company during the fourth quarter worth $1,244,094,000. Wellington Management Group LLP raised its stake in shares of Deere & Company by 32.0% during the 3rd 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 purchasing an additional 1,782,984 shares during the period. Raymond James Financial Inc. purchased a new stake in Deere & Company during the 4th quarter worth about $296,232,000. Proficio Capital Partners LLC boosted its stake in Deere & Company by 52,200.3% in the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock worth $224,920,000 after purchasing an additional 529,833 shares during the period. Finally, Strategic Wealth Investment Group LLC purchased a new position in Deere & Company during the 4th quarter valued at about $148,359,000. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated 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 directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Deere & Company Stock Performance

Deere & Company stock opened at $470.31 on Tuesday. The firm has a fifty day simple moving average of $477.56 and a two-hundred day simple moving average of $440.70. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a market capitalization of $127.65 billion, a PE ratio of 20.85, a P/E/G ratio of 2.14 and a beta of 1.01. 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 released its earnings results 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 return on equity of 27.31% and a net margin of 12.94%. Research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is 28.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. Evercore ISI raised their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Truist Financial restated a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Finally, Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.