Envestnet Portfolio Solutions Inc. Trims Holdings in Deere & Company (NYSE:DE)

Envestnet Portfolio Solutions Inc. decreased its stake in Deere & Company (NYSE:DE - Free Report) by 57.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,596 shares of the industrial products company's stock after selling 6,287 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Deere & Company were worth $1,947,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock valued at $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC grew its stake in Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock valued at $2,168,737,000 after acquiring an additional 31,459 shares during the last quarter. FMR LLC increased its holdings in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock valued at $1,895,518,000 after acquiring an additional 988,380 shares in the last quarter. Fisher Asset Management LLC raised its position in 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 acquiring an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted 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 in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

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Deere & Company Trading Down 0.1 %

Shares of NYSE:DE traded down $0.26 during trading on Tuesday, reaching $479.70. 808,185 shares of the stock were exchanged, compared to its average volume of 1,359,819. The firm's 50-day moving average price is $474.26 and its 200 day moving average price is $437.56. The firm has a market cap of $130.20 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. 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 (NYSE:DE - Get Free Report) last released its quarterly earnings data 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%. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company's dividend payout ratio is currently 28.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DE. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their price target on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. StockNews.com lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. Finally, Evercore ISI raised their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Deere & Company currently has an average rating of "Hold" and an average target price of $460.00.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.