Premier Fund Managers Ltd trimmed its position in Deere & Company (NYSE:DE - Free Report) by 55.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,909 shares of the industrial products company's stock after selling 16,990 shares during the period. Premier Fund Managers Ltd's holdings in Deere & Company were worth $5,908,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of DE. Pineridge Advisors LLC increased its stake 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 purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter valued at approximately $35,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $44,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Deere & Company
In related news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Evercore ISI boosted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Citigroup boosted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, StockNews.com upgraded Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $460.00.
View Our Latest Stock Analysis on Deere & Company
Deere & Company Price Performance
NYSE:DE traded up $8.22 during mid-day trading on Tuesday, reaching $477.57. 441,959 shares of the company were exchanged, compared to its average volume of 1,397,413. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The stock has a market cap of $129.62 billion, a PE ratio of 21.16, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a fifty day moving average of $477.56 and a 200 day moving average of $440.70.
Deere & Company (NYSE:DE - Get Free Report) last issued 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 return on equity of 27.31% and a net margin of 12.94%. On average, research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.36%. Deere & Company's payout ratio is presently 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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