Frederick Financial Consultants LLC bought a new stake in Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,170 shares of the industrial products company's stock, valued at approximately $496,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new stake in Deere & Company in the 4th quarter worth about $1,244,094,000. FMR LLC raised its holdings in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Raymond James Financial Inc. bought a new position in shares of Deere & Company during the fourth quarter worth $296,232,000. Proficio Capital Partners LLC boosted its holdings in shares of Deere & Company by 52,200.3% during the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock valued at $224,920,000 after purchasing an additional 529,833 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $148,359,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Deere & Company Price Performance
DE traded up $4.64 during trading on Wednesday, reaching $459.30. The company's stock had a trading volume of 425,144 shares, compared to its average volume of 1,420,610. 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 fifty day simple moving average of $468.85 and a two-hundred day simple moving average of $445.27. The company has a market cap of $124.66 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current 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 issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.
Analyst Ratings Changes
DE has been the topic of several analyst reports. Citigroup reduced their price objective on Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley increased their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. UBS Group cut their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Robert W. Baird reaffirmed a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. One equities 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's stock. According to data from MarketBeat, Deere & Company has an average rating of "Hold" and a consensus target price of $460.21.
Get Our Latest Stock Report on Deere & Company
Insider Activity
In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction 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 completion of the sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company's stock.
About Deere & Company
(
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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