Parnassus Investments LLC Sells 95,232 Shares of Deere & Company (NYSE:DE)

Parnassus Investments LLC cut its holdings in Deere & Company (NYSE:DE - Free Report) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,670,330 shares of the industrial products company's stock after selling 95,232 shares during the quarter. Deere & Company makes up approximately 3.2% of Parnassus Investments LLC's portfolio, making the stock its 6th largest holding. Parnassus Investments LLC owned 1.34% of Deere & Company worth $1,531,739,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DE. O Shaughnessy Asset Management LLC grew its position in shares of Deere & Company by 16.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 20,235 shares of the industrial products company's stock valued at $8,311,000 after purchasing an additional 2,868 shares during the last quarter. Lake Street Advisors Group LLC grew its position in shares of Deere & Company by 19.6% in the first quarter. Lake Street Advisors Group LLC now owns 2,521 shares of the industrial products company's stock valued at $1,039,000 after purchasing an additional 413 shares during the last quarter. InterOcean Capital Group LLC grew its position in shares of Deere & Company by 3.0% in the first quarter. InterOcean Capital Group LLC now owns 2,770 shares of the industrial products company's stock valued at $1,138,000 after purchasing an additional 81 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Deere & Company in the 1st quarter worth approximately $69,000. Finally, Payden & Rygel Investment Group purchased a new stake in Deere & Company in the 1st quarter worth approximately $945,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.1 %

Shares of NYSE:DE traded down $4.40 during midday trading on Tuesday, hitting $400.13. 1,076,549 shares of the company's stock traded hands, compared to its average volume of 1,430,043. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company has a market cap of $109.47 billion, a PE ratio of 13.71, a P/E/G ratio of 1.52 and a beta of 0.93. The firm's fifty day moving average price is $404.38 and its two-hundred day moving average price is $385.70. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company's payout ratio is 20.06%.

Analysts Set New Price Targets

Several analysts have commented on DE shares. Citigroup lifted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $360.00 to $420.00 and gave the stock a "neutral" rating in a research note on Friday, October 11th. Morgan Stanley lowered their target price on shares of Deere & Company from $450.00 to $425.00 and set an "overweight" rating for the company in a research note on Monday, August 26th. Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a "neutral" rating in a research note on Friday, August 16th. Finally, BMO Capital Markets began coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a "market perform" rating and a $400.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of "Hold" and a consensus target price of $420.69.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.