California Public Employees Retirement System decreased its holdings in Deere & Company (NYSE:DE - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 710,090 shares of the industrial products company's stock after selling 27,865 shares during the period. California Public Employees Retirement System owned about 0.26% of Deere & Company worth $300,865,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Pineridge Advisors LLC grew its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after acquiring an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $32,000. YANKCOM Partnership acquired a new stake in Deere & Company in the fourth quarter valued at $34,000. Synergy Asset Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at $35,000. Finally, Continuum Advisory LLC boosted its position in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.
Insider Buying and Selling
In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Jefferies Financial Group cut Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $460.00.
Check Out Our Latest Analysis on Deere & Company
Deere & Company Stock Performance
Deere & Company stock traded up $5.00 during trading hours on Monday, reaching $470.31. 1,496,263 shares of the stock were exchanged, compared to its average volume of 1,401,110. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The stock has a market cap of $127.65 billion, a P/E ratio of 20.85, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm's 50 day moving average is $477.56 and its 200 day moving average is $440.70.
Deere & Company (NYSE:DE - Get Free Report) last posted 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%. Analysts predict 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 paid a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.38%. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.
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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