Cibc World Markets Corp Increases Stake in Deere & Company (NYSE:DE)

Cibc World Markets Corp grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 15.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,420 shares of the industrial products company's stock after acquiring an additional 5,318 shares during the quarter. Cibc World Markets Corp's holdings in Deere & Company were worth $17,126,000 as of its most recent filing with the Securities & Exchange Commission.

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

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Analyst Ratings Changes

A number of brokerages recently weighed in on DE. Jefferies Financial Group downgraded shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. StockNews.com cut Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, March 1st. Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $460.00.

Deere & Company Price Performance

Shares of DE traded down $5.12 during midday trading on Friday, hitting $471.90. 1,684,986 shares of the company traded hands, compared to its average volume of 1,477,285. The stock has a market cap of $128.08 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.14 and a beta of 1.01. The firm has a 50 day moving average of $471.98 and a 200-day moving average of $435.61. 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 has a 52 week low of $340.20 and a 52 week high of $515.05.

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 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 fiscal year.

Deere & Company Announces Dividend

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 given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio is presently 28.72%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares in the company, valued at $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 SEC, which is available at this link. 0.29% of the stock is owned by insiders.

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.