Bessemer Group Inc. Sells 10,962 Shares of Deere & Company (NYSE:DE)

Bessemer Group Inc. lowered its position in shares of Deere & Company (NYSE:DE - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 133,433 shares of the industrial products company's stock after selling 10,962 shares during the quarter. Bessemer Group Inc.'s holdings in Deere & Company were worth $56,535,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Robertson Stephens Wealth Management LLC lifted its position in shares of 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 worth $426,000 after purchasing an additional 22 shares in the last quarter. DLK Investment Management LLC increased its stake in 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 worth $3,479,000 after buying an additional 24 shares during the period. Quent Capital LLC lifted its holdings in Deere & Company by 2.8% during the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock worth $377,000 after buying an additional 24 shares in the last quarter. Valeo Financial Advisors LLC boosted 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 valued at $3,398,000 after buying an additional 24 shares during the period. Finally, Douglas Lane & Associates LLC grew its stake in shares of 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 acquiring an additional 25 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

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Analysts Set New Price Targets

A number of research firms recently issued reports on DE. Evercore ISI lifted their target price on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Robert W. Baird reiterated a "neutral" rating and set a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Baird R W downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. UBS Group lowered their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, StockNews.com lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of "Hold" and an average target price of $457.26.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company's stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $2.46 during midday trading on Tuesday, hitting $465.21. 302,589 shares of the company were exchanged, compared to its average volume of 1,428,087. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a 50 day simple moving average of $470.92 and a 200-day simple moving average of $443.86. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The firm has a market cap of $126.26 billion, a P/E ratio of 20.62, a PEG ratio of 2.14 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business 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 1.39%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio is currently 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.