Edgemoor Investment Advisors Inc. Has $10.85 Million Holdings in Deere & Company (NYSE:DE)

Edgemoor Investment Advisors Inc. decreased its stake in shares of Deere & Company (NYSE:DE) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,618 shares of the industrial products company’s stock after selling 342 shares during the period. Deere & Company makes up 1.0% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 27th largest position. Edgemoor Investment Advisors Inc.’s holdings in Deere & Company were worth $10,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC bought a new position in Deere & Company during the fourth quarter worth about $32,000. YANKCOM Partnership bought a new position in Deere & Company during the fourth quarter worth about $34,000. Synergy Asset Management LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $35,000. Finally, Sierra Ocean LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $478.67 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The business has a 50-day moving average price of $466.59 and a two-hundred day moving average price of $433.63. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The company has a market cap of $129.92 billion, a P/E ratio of 21.22, a PEG ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 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%. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s payout ratio is 28.72%.

Analyst Ratings Changes

Several research firms recently issued reports on DE. Truist Financial reiterated a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Citigroup increased their price target on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, Argus set a $510.00 target price on Deere & Company in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $460.00.

Deere & Company 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.