Edge Capital Group LLC Acquires 206 Shares of Deere & Company (NYSE:DE)

Edge Capital Group LLC boosted its holdings in Deere & Company (NYSE:DE) by 32.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 832 shares of the industrial products company’s stock after purchasing an additional 206 shares during the period. Edge Capital Group LLC’s holdings in Deere & Company were worth $353,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC bought a new stake in Deere & Company during the 4th quarter valued at $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the 4th quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company during the 4th quarter valued at $35,000. Finally, Continuum Advisory LLC grew its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.2 %

Shares of NYSE DE opened at $484.24 on Tuesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. 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 firm has a 50-day moving average of $452.99 and a 200 day moving average of $422.92. The stock has a market cap of $131.88 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.34%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s payout ratio is 28.72%.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Barclays boosted their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $454.65.

Deere & 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.