15,281 Shares in Deere & Company (NYSE:DE) Purchased by Woodline Partners LP

Woodline Partners LP acquired a new stake in Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,281 shares of the industrial products company’s stock, valued at approximately $6,475,000.

A number of other hedge funds also recently bought and sold shares of DE. Compass Financial Services Inc purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $254,000. Banque Pictet & Cie SA lifted its position in Deere & Company by 2.0% during the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after buying an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC lifted its position in Deere & Company by 2.9% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock worth $21,021,000 after buying an additional 1,407 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Deere & Company during the fourth quarter worth $847,000. Finally, BankPlus Trust Department purchased a new stake in Deere & Company in the 4th quarter valued at $1,127,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DE. Truist Financial raised their target price on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. DA Davidson reissued a “buy” rating and issued a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Thursday. Oppenheimer boosted their target price on shares of Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average price target of $516.75.

Deere & Company Stock Performance

NYSE:DE opened at $509.83 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The stock has a market capitalization of $138.37 billion, a P/E ratio of 22.60, a PEG ratio of 2.14 and a beta of 1.08. The company has a 50 day moving average price of $472.60 and a 200 day moving average price of $458.36. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the prior year, the firm earned $8.53 earnings per share. The firm’s revenue was down 17.9% compared to the same quarter last year. Equities research analysts forecast 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 was paid on Thursday, May 8th. Investors of record on Monday, March 31st were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

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.