Obermeyer Wealth Partners Boosts Stock Position in Deere & Company (NYSE:DE)

Obermeyer Wealth Partners grew its holdings in Deere & Company (NYSE:DE) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,278 shares of the industrial products company’s stock after purchasing an additional 172 shares during the period. Obermeyer Wealth Partners’ holdings in Deere & Company were worth $13,253,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Robertson Stephens Wealth Management LLC lifted its position in shares of Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 22 shares in the last quarter. DLK Investment Management LLC boosted its position in Deere & Company by 0.3% during the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after acquiring an additional 24 shares during the last quarter. Quent Capital LLC grew its stake in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 24 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Deere & Company by 0.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares during the period. Finally, Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Deere & Company by 1.2% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 2,115 shares of the industrial products company’s stock worth $896,000 after purchasing an additional 25 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Oppenheimer increased their price objective on shares of Deere & Company from $510.00 to $513.00 and gave the stock an “outperform” rating in a report on Tuesday, April 22nd. Truist Financial restated a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Citigroup reduced their target price on Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday, April 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $460.21.

Deere & Company Trading Up 0.5%

Shares of NYSE:DE opened at $495.06 on Tuesday. The firm has a market cap of $134.37 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 2.14 and a beta of 1.08. The company’s fifty day simple moving average is $466.33 and its 200 day simple moving average is $452.10. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. 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 issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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, research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.31%. Deere & Company’s dividend payout ratio is currently 28.72%.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This 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 accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

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.