Vista Investment Partners II LLC bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 570 shares of the industrial products company's stock, valued at approximately $242,000.
Other hedge funds have also added to or reduced their stakes in the company. Pineridge Advisors LLC raised its stake in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company in the 4th quarter worth $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth $35,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth $44,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company Price Performance
Shares of DE traded down $4.01 during midday trading on Wednesday, hitting $471.49. 1,679,841 shares of the company traded hands, compared to its average volume of 1,530,677. The firm has a 50 day moving average of $464.49 and a 200-day moving average of $431.94. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The stock has a market cap of $127.97 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal 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 issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is 28.72%.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Morgan Stanley upped their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. UBS Group upped their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Citigroup increased their price target on Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and an average target price of $460.00.
Get Our Latest Research Report on DE
Insider Activity at Deere & Company
In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 transaction, the insider now owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.
About Deere & Company
(
Free Report)
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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