Olstein Capital Management L.P. cut its position in Deere & Company (NYSE:DE - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,750 shares of the industrial products company's stock after selling 4,750 shares during the quarter. Olstein Capital Management L.P.'s holdings in Deere & Company were worth $6,673,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board increased its holdings in Deere & Company by 80.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 9,171 shares of the industrial products company's stock worth $3,427,000 after acquiring an additional 4,091 shares during the period. MBB Public Markets I LLC purchased a new stake in Deere & Company during the second quarter valued at about $7,010,000. The Manufacturers Life Insurance Company raised its holdings in shares of Deere & Company by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 440,028 shares of the industrial products company's stock valued at $164,408,000 after buying an additional 21,955 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new stake in Deere & Company in the second quarter worth approximately $237,000. Finally, Scientech Research LLC purchased a new position in shares of Deere & Company during the second quarter worth approximately $799,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Trading Up 0.9 %
DE stock traded up $4.18 during mid-day trading on Friday, reaching $478.90. The company had a trading volume of 1,400,742 shares, compared to its average volume of 1,025,682. The company has a market capitalization of $130.43 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. The firm has a 50 day moving average of $438.55 and a 200 day moving average of $406.05. Deere & Company has a 12 month low of $340.20 and a 12 month high of $479.48. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts' consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period in the prior year, the firm earned $8.26 earnings per share. The firm's revenue for the quarter was down 32.8% compared to the same quarter last year. On average, equities analysts predict that Deere & Company will post 19.34 earnings per share for the current fiscal year.
Deere & Company Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This is a boost from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company's dividend payout ratio (DPR) is currently 25.31%.
Analyst Ratings Changes
Several equities research analysts have weighed in on DE shares. JPMorgan Chase & Co. increased their price objective on Deere & Company from $450.00 to $470.00 and gave the stock a "neutral" rating in a report on Wednesday, January 15th. Morgan Stanley lifted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Jefferies Financial Group cut shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. Finally, Citigroup lowered their price objective on shares of Deere & Company from $470.00 to $430.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $442.83.
Check Out Our Latest Stock Analysis on Deere & Company
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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