Deere & Company (NYSE:DE) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury decreased its stake in Deere & Company (NYSE:DE - Free Report) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,216 shares of the industrial products company's stock after selling 5,849 shares during the period. State of Tennessee Department of Treasury's holdings in Deere & Company were worth $33,140,000 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. Robertson Stephens Wealth Management LLC lifted its position in shares of Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock valued at $426,000 after acquiring an additional 22 shares during the period. DLK Investment Management LLC grew its holdings in shares of Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock worth $3,479,000 after acquiring an additional 24 shares during the period. Quent Capital LLC increased its stake in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock worth $3,398,000 after purchasing an additional 24 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its position in Deere & Company by 4.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company's stock worth $236,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price target on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Argus set a $510.00 target price on Deere & Company in a research note on Friday, March 7th. Baird R W downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Citigroup cut their target price on shares of Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and a consensus price target of $459.89.

Deere & Company Price Performance

Deere & Company stock opened at $441.89 on Tuesday. The firm has a fifty day moving average of $469.08 and a 200-day moving average of $445.21. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $119.94 billion, a P/E ratio of 19.59, a PEG ratio of 2.14 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating 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, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company 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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is 28.72%.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the 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 completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.