Intech Investment Management LLC Sells 4,256 Shares of Deere & Company (NYSE:DE)

Intech Investment Management LLC lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 26.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,915 shares of the industrial products company's stock after selling 4,256 shares during the period. Intech Investment Management LLC's holdings in Deere & Company were worth $5,048,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP grew its position 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 during the period. FMR LLC increased its position in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Deere & Company in the 4th quarter worth approximately $296,232,000. Stockbridge Partners LLC lifted its stake in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock worth $369,019,000 after purchasing an additional 540,874 shares during the period. Finally, Proficio Capital Partners LLC grew its position in Deere & Company by 52,200.3% during the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock valued at $224,920,000 after buying an additional 529,833 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

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Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Deere & Company Price Performance

Shares of NYSE:DE traded down $5.12 on Friday, reaching $471.90. The company's stock had a trading volume of 1,684,992 shares, compared to its average volume of 1,361,832. The company has a 50-day simple moving average of $473.25 and a 200 day simple moving average of $436.57. Deere & Company has a 52-week low of $340.20 and a 52-week 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 company has a market cap 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 (NYSE:DE - Get Free Report) last released its quarterly earnings results 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 return on equity of 27.31% and a net margin of 12.94%. As a group, equities research analysts anticipate that Deere & Company will post 19.32 EPS 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. Investors of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.37%. Deere & Company's dividend payout ratio is presently 28.72%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. Citigroup boosted their price objective on Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, Oppenheimer raised their target price 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. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Deere & Company has a consensus rating of "Hold" and an average target price of $460.00.

Deere & Company 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.