Murphy & Mullick Capital Management Corp Purchases New Holdings in Deere & Company (NYSE:DE)

Murphy & Mullick Capital Management Corp acquired a new position in Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,073 shares of the industrial products company’s stock, valued at approximately $878,000.

A number of other institutional investors have also recently bought and sold shares of DE. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new position in Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership bought a new position in Deere & Company during the fourth quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company in the fourth quarter worth $35,000. Finally, Continuum Advisory LLC raised its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Oppenheimer increased their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Citigroup increased their target price on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Evercore ISI raised their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, Truist Financial reiterated 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. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $460.00.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

Deere & Company Stock Performance

Deere & Company stock opened at $479.70 on Wednesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. 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 market cap of $130.20 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The firm’s fifty day moving average price is $475.21 and its 200-day moving average price is $438.25.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.35%. Deere & Company’s payout ratio is 28.72%.

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.