Allstate Corp Invests $3.29 Million in Deere & Company (NYSE:DE)

Allstate Corp bought a new position in shares of Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,759 shares of the industrial products company's stock, valued at approximately $3,287,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DE. Robertson Stephens Wealth Management LLC raised its position in Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock valued at $426,000 after purchasing an additional 22 shares in the last quarter. DLK Investment Management LLC raised its holdings in shares of Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock valued at $3,479,000 after buying an additional 24 shares in the last quarter. Quent Capital LLC raised its holdings in shares of Deere & Company by 2.8% during the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after buying an additional 24 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock worth $3,398,000 after buying an additional 24 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company's stock worth $236,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

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Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company's 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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Deere & Company Trading Down 3.6 %

Shares of DE traded down $17.17 during trading hours on Thursday, reaching $453.73. 819,453 shares of the company traded hands, compared to its average volume of 1,399,845. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a market capitalization of $123.15 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company's fifty day moving average price is $478.09 and its two-hundred day moving average price is $441.50. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio is currently 28.72%.

Wall Street Analysts Forecast Growth

DE has been the topic of several research reports. Citigroup lifted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Argus set a $510.00 price target on shares of Deere & Company in a research note on Friday, March 7th. Evercore ISI lifted their price objective 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, JPMorgan Chase & Co. increased their target price on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Deere & Company presently has an average rating of "Hold" and a consensus target price of $460.00.

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.