Meriwether Wealth & Planning LLC Purchases New Holdings in Deere & Company (NYSE:DE)

Meriwether Wealth & Planning LLC acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,074 shares of the industrial products company's stock, valued at approximately $455,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC increased its stake in Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock worth $2,168,737,000 after acquiring an additional 31,459 shares during the last quarter. FMR LLC grew its stake in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock valued at $1,895,518,000 after buying an additional 988,380 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Deere & Company by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock valued at $913,334,000 after buying an additional 160,956 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company's stock valued at $874,473,000 after buying an additional 107,544 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. Robert W. Baird reaffirmed a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Citigroup lifted 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. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $460.00.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was 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 directly owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company's stock.

Deere & Company Stock Down 0.8 %

NYSE DE traded down $4.01 during trading on Wednesday, reaching $471.49. 1,679,841 shares of the company's stock were exchanged, compared to its average volume of 1,530,677. The stock has a market cap of $127.97 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. 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 50 day moving average price of $464.49 and a two-hundred day moving average price of $431.94. 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 announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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%. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is currently 28.72%.

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.