SevenBridge Financial Group LLC Increases Stock Holdings in Deere & Company (NYSE:DE)

SevenBridge Financial Group LLC increased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,177 shares of the industrial products company's stock after acquiring an additional 721 shares during the period. SevenBridge Financial Group LLC's holdings in Deere & Company were worth $2,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC raised its position in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after purchasing an additional 97,203 shares during the last quarter. Norges Bank bought a new position in Deere & Company during the fourth quarter worth $1,244,094,000. Fisher Asset Management LLC increased its holdings in Deere & Company by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock worth $913,334,000 after purchasing an additional 160,956 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Deere & Company by 5.5% during 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 acquiring an additional 107,544 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Remove Ads

Analyst Ratings Changes

DE has been the topic of a number of recent research reports. Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their target price on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Citigroup lifted their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, Evercore ISI raised their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of "Hold" and a consensus target price of $460.00.

Deere & Company Stock Performance

Shares of DE traded down $14.21 during trading hours on Monday, reaching $415.65. 1,274,230 shares of the company traded hands, compared to its average volume of 1,417,542. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The business has a fifty day moving average price of $476.55 and a 200-day moving average price of $442.38. 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 capitalization of $112.81 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.14 and a beta of 1.00.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.29% of the company's stock.

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.