United Bank increased its position in Deere & Company (NYSE:DE - Free Report) by 17.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,235 shares of the industrial products company's stock after buying an additional 615 shares during the quarter. United Bank's holdings in Deere & Company were worth $1,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in Deere & Company during the fourth quarter valued at about $1,244,094,000. Wellington Management Group LLP lifted 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 acquiring an additional 1,782,984 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Deere & Company during the 4th quarter valued at about $296,232,000. Proficio Capital Partners LLC grew its position in Deere & Company by 52,200.3% during the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock worth $224,920,000 after acquiring an additional 529,833 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $148,359,000. 68.58% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. StockNews.com raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, March 29th. Evercore ISI boosted their price target on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Oppenheimer lifted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and a consensus target price of $460.00.
Check Out Our Latest Stock Analysis on Deere & Company
Deere & Company Stock Down 3.3 %
NYSE DE traded down $15.46 during mid-day trading on Thursday, reaching $455.44. The stock had a trading volume of 1,160,941 shares, compared to its average volume of 1,401,124. The stock has a market cap of $123.61 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company has a fifty day moving average price of $478.09 and a 200 day moving average price of $441.50.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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 expect that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently announced 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 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio is currently 28.72%.
Insider Activity
In related 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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.
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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