Prudential PLC Acquires 684 Shares of Deere & Company (NYSE:DE)

Prudential PLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,083 shares of the industrial products company’s stock after acquiring an additional 684 shares during the quarter. Prudential PLC’s holdings in Deere & Company were worth $2,154,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. National Bank of Canada FI increased its holdings in Deere & Company by 37.9% during the 3rd quarter. National Bank of Canada FI now owns 230,652 shares of the industrial products company’s stock worth $96,258,000 after purchasing an additional 63,380 shares during the period. Zacks Investment Management lifted its stake in Deere & Company by 22.7% in the third quarter. Zacks Investment Management now owns 2,235 shares of the industrial products company’s stock worth $933,000 after acquiring an additional 413 shares during the period. Dunhill Financial LLC grew its holdings in Deere & Company by 12.8% during the 3rd quarter. Dunhill Financial LLC now owns 265 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 30 shares in the last quarter. MML Investors Services LLC increased its position in Deere & Company by 6.4% during the 3rd quarter. MML Investors Services LLC now owns 56,788 shares of the industrial products company’s stock valued at $23,699,000 after purchasing an additional 3,437 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Deere & Company by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 79,478 shares of the industrial products company’s stock valued at $33,169,000 after purchasing an additional 3,860 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $430.25 on Monday. The business has a fifty day moving average of $476.55 and a 200 day moving average of $442.38. 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 market capitalization of $116.78 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

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

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DE. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Truist Financial reissued a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Sunday. Robert W. Baird reiterated a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Finally, Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $460.00.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’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 completion of the transaction, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

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.