Tocqueville Asset Management L.P. Cuts Stock Position in Deere & Company (NYSE:DE)

Tocqueville Asset Management L.P. trimmed its position in Deere & Company (NYSE:DE - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,123 shares of the industrial products company's stock after selling 11,765 shares during the quarter. Deere & Company accounts for approximately 0.9% of Tocqueville Asset Management L.P.'s holdings, making the stock its 24th biggest holding. Tocqueville Asset Management L.P.'s holdings in Deere & Company were worth $54,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. FMR LLC lifted its holdings in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock worth $1,895,518,000 after buying an additional 988,380 shares during the period. Raymond James Financial Inc. purchased a new stake in Deere & Company in the fourth quarter worth about $296,232,000. Stockbridge Partners LLC grew its holdings in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock worth $369,019,000 after acquiring an additional 540,874 shares during the period. Finally, Proficio Capital Partners LLC raised its position in shares of Deere & Company by 52,200.3% in the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock worth $224,920,000 after acquiring an additional 529,833 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

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Deere & Company Stock Performance

Shares of NYSE DE traded down $5.12 during midday trading on Friday, hitting $471.90. 1,684,992 shares of the stock traded hands, compared to its average volume of 1,362,992. The firm has a market capitalization of $128.08 billion, a P/E ratio of 20.92, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a one year low of $340.20 and a one year 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. The firm has a 50-day moving average of $471.98 and a two-hundred day moving average of $435.61.

Deere & Company (NYSE:DE - Get Free Report) last announced its 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 return on equity of 27.31% and a net margin of 12.94%. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.37%. Deere & Company's dividend payout ratio (DPR) is 28.72%.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the business's 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. The trade was a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

DE has been the topic of several recent research reports. Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Citigroup increased their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Evercore ISI raised their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Finally, UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $460.00.

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.