Townsquare Capital LLC Grows Position in Deere & Company (NYSE:DE)

Townsquare Capital LLC increased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,272 shares of the industrial products company's stock after acquiring an additional 918 shares during the quarter. Townsquare Capital LLC's holdings in Deere & Company were worth $3,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC boosted its holdings in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Geode Capital Management LLC increased its position in shares of Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after purchasing an additional 97,203 shares in the last quarter. Norges Bank acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $1,244,094,000. Fisher Asset Management LLC boosted its stake in shares of Deere & Company by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock worth $913,334,000 after buying an additional 160,956 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company's stock valued at $874,473,000 after purchasing an additional 107,544 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE traded down $0.36 on Friday, reaching $452.06. 1,044,813 shares of the company's stock traded hands, compared to its average volume of 1,426,154. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The stock's 50 day simple moving average is $469.77 and its two-hundred day simple moving average is $444.52. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The stock has a market cap of $122.70 billion, a PE ratio of 20.04, a PEG ratio of 2.14 and a beta of 1.00.

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

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

DE has been the subject of a number of analyst reports. Evercore ISI increased their target price on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a report on Sunday, April 6th. Argus set a $510.00 price target on shares of Deere & Company in a research note on Friday, March 7th. UBS Group lowered their target price on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $459.89.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. 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 currently 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.