Citizens Financial Group Inc. RI lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,918 shares of the industrial products company's stock after selling 1,869 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Deere & Company were worth $8,439,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% in the 4th 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 during the period. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company during the fourth quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on DE shares. 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. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Morgan Stanley increased their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Finally, StockNews.com cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. One investment 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, the company has an average rating of "Hold" and a consensus target price of $460.00.
Read Our Latest Analysis on DE
Deere & Company Price Performance
Shares of DE traded down $13.08 during trading hours on Tuesday, reaching $475.70. 1,492,228 shares of the company traded hands, compared to its average volume of 1,527,433. The stock has a market capitalization of $129.11 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The stock has a fifty day simple moving average of $463.53 and a 200 day simple moving average of $431.66. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. 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 released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) 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%. As a group, research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is 28.72%.
Insider Activity at Deere & Company
In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction 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 represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.
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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