Victory Capital Management Inc. cut its holdings in Deere & Company (NYSE:DE - Free Report) by 8.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,694 shares of the industrial products company's stock after selling 8,416 shares during the quarter. Victory Capital Management Inc.'s holdings in Deere & Company were worth $38,851,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in DE. Pineridge Advisors LLC lifted its stake in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after acquiring an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new position in Deere & Company during the 4th quarter worth about $32,000. YANKCOM Partnership acquired a new position in Deere & Company during the 4th quarter worth about $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter worth about $35,000. Finally, Continuum Advisory LLC lifted its stake in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after acquiring an additional 67 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 directly owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.
Deere & Company Stock Up 3.5 %
Shares of DE traded up $16.89 during mid-day trading on Friday, reaching $499.73. The company's stock had a trading volume of 2,615,248 shares, compared to its average volume of 1,513,524. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The stock has a market cap of $135.63 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. 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's 50 day moving average is $461.21 and its 200 day moving average is $429.83.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid 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 yield of 1.30%. Deere & Company's dividend payout ratio is presently 28.72%.
Analyst Ratings Changes
DE has been the topic of several research reports. Oppenheimer increased their target price on Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Robert W. Baird reissued a "neutral" rating and set a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their price target on Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Citigroup upped their price target on Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $457.22.
Get Our Latest Stock Analysis on DE
Deere & Company Company Profile
(
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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