Castleark Management LLC Makes New Investment in Deere & Company $DE

Castleark Management LLC acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,510 shares of the industrial products company's stock, valued at approximately $8,395,000.

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Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in Deere & Company by 616.6% in the first quarter. Vestmark Advisory Solutions Inc. now owns 4,966 shares of the industrial products company's stock valued at $2,331,000 after buying an additional 4,273 shares during the period. Trivium Point Advisory LLC purchased a new position in Deere & Company in the first quarter valued at approximately $250,000. Horizon Investments LLC lifted its position in Deere & Company by 3.2% during the first quarter. Horizon Investments LLC now owns 4,596 shares of the industrial products company's stock valued at $2,157,000 after buying an additional 141 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Deere & Company by 19.4% during the first quarter. American Century Companies Inc. now owns 339,700 shares of the industrial products company's stock worth $159,438,000 after buying an additional 55,079 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Deere & Company

In other news, CEO John C. May II sold 11,106 shares of the firm's stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the sale, the chief executive officer owned 112,453 shares of the company's stock, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company's stock.

Deere & Company Stock Performance

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Shares of DE stock opened at $485.35 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The company's fifty day moving average price is $469.02 and its two-hundred day moving average price is $487.55. The firm has a market capitalization of $131.20 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.83 and a beta of 1.00. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion for the quarter, compared to analysts' expectations of $9.77 billion. During the same period in the previous year, the firm posted $4.55 earnings per share. The firm's revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company's dividend payout ratio is presently 35.01%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reissued a "market perform" rating on shares of Deere & Company in a research report on Tuesday. Citigroup decreased their price target on shares of Deere & Company from $525.00 to $515.00 and set a "neutral" rating for the company in a research report on Tuesday, October 7th. Wells Fargo & Company started coverage on Deere & Company in a report on Thursday, November 13th. They issued an "overweight" rating and a $543.00 price target for the company. Zacks Research upgraded Deere & Company from a "strong sell" rating to a "hold" rating in a research note on Wednesday, December 3rd. Finally, Truist Financial upped their target price on Deere & Company from $609.00 to $612.00 and gave the stock a "buy" rating in a research report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $523.70.

Check Out Our Latest Stock Report on Deere & Company

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.

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