Primecap Management Co. CA Sells 750 Shares of Deere & Company (NYSE:DE)

Primecap Management Co. CA trimmed its position in shares of Deere & Company (NYSE:DE - Free Report) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,700 shares of the industrial products company's stock after selling 750 shares during the period. Primecap Management Co. CA's holdings in Deere & Company were worth $36,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC grew its stake in shares of Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock valued at $2,168,737,000 after purchasing an additional 31,459 shares during the period. FMR LLC grew its stake in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the period. Fisher Asset Management LLC grew its stake in shares of Deere & Company by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock valued at $913,334,000 after purchasing an additional 160,956 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Deere & Company by 5.5% in the 4th 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 purchasing an additional 107,544 shares during the period. 68.58% of the stock is currently owned by institutional investors.

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Deere & Company Trading Down 1.1 %

NYSE:DE traded down $5.12 during trading hours on Friday, hitting $471.90. 1,684,992 shares of the stock were exchanged, compared to its average volume of 1,362,443. The company's 50 day moving average is $473.25 and its two-hundred day moving average is $436.21. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. 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 company has a market capitalization of $128.08 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 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, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. 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 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company'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 completion of the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on DE. Citigroup upped 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. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. StockNews.com lowered Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. Robert W. Baird reissued a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Finally, Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $460.00.

About Deere & Company

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.