Prudential PLC Increases Stake in Deere & Company (NYSE:DE)

Prudential PLC increased its holdings in Deere & Company (NYSE:DE - Free Report) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,083 shares of the industrial products company's stock after purchasing an additional 684 shares during the quarter. Prudential PLC's holdings in Deere & Company were worth $2,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Everence Capital Management Inc. grew its stake in Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock worth $5,179,000 after purchasing an additional 7,300 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Deere & Company in the 4th quarter worth about $254,000. Toronto Dominion Bank increased its stake in shares of Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock worth $36,288,000 after acquiring an additional 1,291 shares in the last quarter. Czech National Bank lifted its position in Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock valued at $23,376,000 after acquiring an additional 2,964 shares during the period. Finally, Banque Pictet & Cie SA lifted its position in Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock valued at $33,165,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

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Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm'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 sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company's stock.

Deere & Company Stock Performance

NYSE DE traded up $6.41 during trading hours on Friday, hitting $450.60. 356,918 shares of the company's stock traded hands, compared to its average volume of 1,431,659. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The firm has a market capitalization of $122.30 billion, a P/E ratio of 19.98, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The business's fifty day moving average price is $471.18 and its two-hundred day moving average price is $442.92.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DE. Argus set a $510.00 price target on Deere & Company in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Robert W. Baird reaffirmed a "neutral" rating and issued a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Citigroup reduced their price objective on shares of Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Evercore ISI upped their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $457.26.

Deere & 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.