Loomis Sayles & Co. L P lessened its stake in shares of Deere & Company (NYSE:DE - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 745,846 shares of the industrial products company's stock after selling 34,953 shares during the period. Loomis Sayles & Co. L P owned about 0.27% of Deere & Company worth $316,015,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in DE. Pineridge Advisors LLC increased its holdings in 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 acquiring an additional 26 shares during the last quarter. Modus Advisors LLC bought a new position in Deere & Company during the fourth quarter worth about $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company in the fourth quarter worth about $34,000. Synergy Asset Management LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC lifted its stake in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after buying an additional 67 shares in the last quarter. Institutional investors own 68.58% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Oppenheimer boosted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. StockNews.com raised Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Robert W. Baird reiterated a "neutral" rating and set a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has an average rating of "Hold" and an average price target of $460.00.
View Our Latest Stock Analysis on DE
Insider Buying and Selling at Deere & Company
In other news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.
Deere & Company Trading Up 0.1 %
Shares of DE traded up $0.41 during mid-day trading on Monday, reaching $464.10. The company's stock had a trading volume of 482,046 shares, compared to its average volume of 1,397,141. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The stock has a market cap of $125.96 billion, a PE ratio of 20.57, a P/E/G ratio of 2.14 and a beta of 1.01. The company's fifty day moving average price is $477.28 and its two-hundred day moving average price is $440.12. 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 posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating 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%. On average, analysts predict 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. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.40%. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.
Deere & Company Company Profile
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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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