Zurcher Kantonalbank Zurich Cantonalbank Cuts Position in Deere & Company (NYSE:DE)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Deere & Company (NYSE:DE - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,167 shares of the industrial products company's stock after selling 20,623 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Deere & Company were worth $44,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Verdence Capital Advisors LLC lifted its position in Deere & Company by 15.0% in the third quarter. Verdence Capital Advisors LLC now owns 1,184 shares of the industrial products company's stock worth $494,000 after buying an additional 154 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Deere & Company by 37.4% during the 3rd quarter. Assetmark Inc. now owns 38,516 shares of the industrial products company's stock worth $16,074,000 after purchasing an additional 10,477 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in Deere & Company by 2.8% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,760 shares of the industrial products company's stock valued at $1,987,000 after purchasing an additional 131 shares during the last quarter. Tyler Stone Wealth Management boosted its position in shares of Deere & Company by 90.1% during the third quarter. Tyler Stone Wealth Management now owns 1,209 shares of the industrial products company's stock valued at $505,000 after buying an additional 573 shares during the period. Finally, Ashton Thomas Securities LLC lifted its stake in shares of Deere & Company by 16.5% during the 3rd quarter. Ashton Thomas Securities LLC now owns 679 shares of the industrial products company's stock worth $283,000 after acquiring an additional 96 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. Oppenheimer raised their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Citigroup lifted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. UBS Group increased their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday. Finally, Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $460.00.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 74,878 shares of the company's stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.29% of the company's stock.

Deere & Company Stock Down 0.9 %

Deere & Company stock traded down $4.18 during mid-day trading on Wednesday, hitting $471.32. The company had a trading volume of 965,721 shares, compared to its average volume of 1,514,774. The stock has a market cap of $127.92 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.14 and a beta of 1.01. 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 has a 1 year low of $340.20 and a 1 year high of $515.05. The business has a fifty day moving average of $463.53 and a 200 day moving average of $431.66.

Deere & Company (NYSE:DE - Get Free Report) last issued 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 return on equity of 27.31% and a net margin of 12.94%. On average, sell-side analysts expect 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. Stockholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.

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.