DRW Securities LLC reduced its holdings in Deere & Company (NYSE:DE - Free Report) by 64.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,103 shares of the industrial products company's stock after selling 1,983 shares during the quarter. DRW Securities LLC's holdings in Deere & Company were worth $467,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in DE. Waddell & Associates LLC purchased a new stake in Deere & Company during the 4th quarter valued at $283,000. APG Asset Management N.V. boosted its stake in Deere & Company by 448.1% during the fourth quarter. APG Asset Management N.V. now owns 178,500 shares of the industrial products company's stock worth $73,038,000 after buying an additional 145,933 shares during the period. Advisory Services Network LLC grew its holdings in Deere & Company by 2.1% during the 4th quarter. Advisory Services Network LLC now owns 19,771 shares of the industrial products company's stock valued at $8,377,000 after purchasing an additional 405 shares during the last quarter. Nixon Capital LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $1,944,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at $55,462,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Deere & Company Price Performance
NYSE:DE traded down $2.65 during trading hours on Wednesday, reaching $458.61. The company had a trading volume of 277,874 shares, compared to its average volume of 1,504,651. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The firm has a market capitalization of $124.47 billion, a PE ratio of 20.33, a PEG ratio of 2.14 and a beta of 1.00. The stock has a 50-day moving average of $470.85 and a two-hundred day moving average of $443.98. 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 earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders 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 yield of 1.41%. Deere & Company's payout ratio is currently 28.72%.
Insider Transactions at Deere & Company
In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the 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 transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Argus set a $510.00 target price on shares of Deere & Company in a research note on Friday, March 7th. Robert W. Baird reiterated a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. Oppenheimer boosted their target price on Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. UBS Group lowered their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Evercore ISI increased their price objective on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. 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 stock. According to MarketBeat.com, Deere & Company has a consensus rating of "Hold" and a consensus price target of $459.89.
Read Our Latest Analysis on Deere & Company
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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