Rhumbline Advisers Has $211.74 Million Holdings in Deere & Company (NYSE:DE)

Rhumbline Advisers trimmed its stake in shares of Deere & Company (NYSE:DE - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 499,749 shares of the industrial products company's stock after selling 9,946 shares during the quarter. Rhumbline Advisers owned about 0.18% of Deere & Company worth $211,744,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Wellington Management Group LLP increased its position in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares during the period. FMR LLC increased its holdings in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Pathway Financial Advisers LLC raised its position in shares of Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company's stock valued at $356,602,000 after buying an additional 852,885 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company's stock valued at $322,218,000 after buying an additional 770,451 shares during the period. Finally, Stockbridge Partners LLC grew its position in Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock worth $369,019,000 after buying an additional 540,874 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, November 25th. Citigroup upped their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Jefferies Financial Group downgraded shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Finally, Oppenheimer increased their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of "Hold" and a consensus target price of $454.65.

Deere & Company Price Performance

DE traded up $7.98 on Wednesday, reaching $509.54. The stock had a trading volume of 2,095,177 shares, compared to its average volume of 1,475,527. 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 company has a market capitalization of $138.77 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 2.96 and a beta of 0.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a 50-day moving average of $448.71 and a 200-day moving average of $418.73.

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 for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, sell-side analysts anticipate that Deere & Company will post 19.35 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. This is a boost from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company's dividend payout ratio is 28.72%.

About Deere & Company

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.