FMR LLC raised its position in Deere & Company (NYSE:DE - Free Report) by 22.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,581,408 shares of the industrial products company's stock after acquiring an additional 1,039,395 shares during the quarter. FMR LLC owned approximately 2.05% of Deere & Company worth $2,364,843,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC bought a new stake in Deere & Company during the fourth quarter valued at about $32,000. YANKCOM Partnership purchased a new stake in Deere & Company in the fourth quarter worth about $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company in the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $44,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on DE. StockNews.com cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. Oppenheimer raised their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Citigroup dropped their target price on shares of Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a report on Tuesday. JPMorgan Chase & Co. increased their price target on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, UBS Group lowered their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of "Hold" and an average price target of $457.26.
View Our Latest Analysis on Deere & Company
Deere & Company Price Performance
DE traded up $14.25 during trading hours on Friday, hitting $458.44. The company's stock had a trading volume of 534,040 shares, compared to its average volume of 1,432,323. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The stock has a market cap of $124.43 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 2.14 and a beta of 1.00. The business's 50-day moving average price is $471.18 and its 200-day moving average price is $442.92. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.
Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.41%. Deere & Company's dividend payout ratio (DPR) is 28.72%.
Insider Activity at Deere & Company
In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. 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 owned by company insiders.
About Deere & Company
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Free Report)
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.
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