Lee Danner & Bass Inc. Makes New Investment in Deere & Company (NYSE:DE)

Lee Danner & Bass Inc. bought a new position in Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 271 shares of the industrial products company’s stock, valued at approximately $115,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Robertson Stephens Wealth Management LLC raised its holdings 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 buying an additional 22 shares during the last quarter. DLK Investment Management LLC raised its holdings in shares of Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after buying an additional 24 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after buying an additional 24 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after buying an additional 24 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in shares of Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after buying an additional 25 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction 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. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $471.90 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 50 day simple moving average of $473.25 and a 200 day simple moving average of $436.21. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The firm has a market capitalization of $128.08 billion, a PE ratio of 20.92, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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 return on equity of 27.31% and a net margin of 12.94%. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Truist Financial reissued 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. UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Citigroup boosted their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Deere & 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.