CIBC Asset Management Inc Buys 1,479 Shares of Deere & Company (NYSE:DE)

CIBC Asset Management Inc grew its stake in shares of Deere & Company (NYSE:DE - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,553 shares of the industrial products company's stock after acquiring an additional 1,479 shares during the period. CIBC Asset Management Inc's holdings in Deere & Company were worth $16,759,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DE. Pineridge Advisors LLC grew its stake in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at about $32,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $32,000. YANKCOM Partnership bought a new position in Deere & Company during the fourth quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC bought a new position in Deere & Company during the fourth quarter valued at approximately $35,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI boosted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. StockNews.com downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Thursday. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Finally, Citigroup raised their price objective on Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $454.65.

Deere & Company Stock Performance

Shares of DE stock traded down $5.81 during mid-day trading on Friday, reaching $489.98. The stock had a trading volume of 1,102,183 shares, compared to its average volume of 1,465,614. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The firm has a market cap of $133.45 billion, a PE ratio of 21.72, a P/E/G ratio of 2.20 and a beta of 0.98. The firm's 50 day simple moving average is $452.07 and its 200 day simple moving average is $420.91. 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 issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping 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%. On average, analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were paid a $1.62 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.32%. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's payout ratio is presently 28.72%.

Deere & Company 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.