Aaron Wealth Advisors LLC Raises Stock Holdings in Deere & Company $DE

Aaron Wealth Advisors LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 115.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,227 shares of the industrial products company’s stock after purchasing an additional 2,798 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Deere & Company were worth $2,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DE. Van ECK Associates Corp boosted its stake in Deere & Company by 278.0% in the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after buying an additional 358,687 shares in the last quarter. Invesco Ltd. boosted its stake in Deere & Company by 21.7% in the third quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock worth $829,930,000 after buying an additional 323,512 shares in the last quarter. Capital World Investors boosted its stake in Deere & Company by 5.5% in the third quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after buying an additional 322,582 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Deere & Company in the third quarter worth approximately $143,519,000. Finally, Nordea Investment Management AB boosted its stake in Deere & Company by 71.4% in the third quarter. Nordea Investment Management AB now owns 531,807 shares of the industrial products company’s stock worth $242,834,000 after buying an additional 221,456 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.1%

NYSE:DE opened at $574.99 on Tuesday. The company has a fifty day moving average of $585.89 and a 200 day moving average of $513.98. Deere & Company has a 52 week low of $404.42 and a 52 week high of $674.19. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $155.31 billion, a P/E ratio of 32.41, a P/E/G ratio of 2.01 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. During the same period in the prior year, the business posted $3.19 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. On average, research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s dividend payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DE. Wolfe Research upped their target price on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $715.00 target price on shares of Deere & Company in a research note on Friday, February 20th. Morgan Stanley upped their target price on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Truist Financial upped their target price on Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, DA Davidson upped their target price on Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Sixteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $650.95.

Insiders Place Their Bets

In related news, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the sale, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. This represents a 26.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the sale, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.