Wellington Management Group LLP Has $2.86 Billion Stock Holdings in Deere & Company (NYSE:DE)

Wellington Management Group LLP reduced its position in Deere & Company (NYSE:DE - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,746,148 shares of the industrial products company's stock after selling 606,317 shares during the quarter. Wellington Management Group LLP owned approximately 2.49% of Deere & Company worth $2,858,343,000 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. O Shaughnessy Asset Management LLC grew its holdings in Deere & Company by 11.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 32,665 shares of the industrial products company's stock valued at $13,840,000 after buying an additional 3,407 shares in the last quarter. Clearbridge Investments LLC increased its position in Deere & Company by 45.6% in the fourth quarter. Clearbridge Investments LLC now owns 334,211 shares of the industrial products company's stock worth $141,605,000 after purchasing an additional 104,628 shares during the last quarter. United Bank raised its stake in Deere & Company by 17.0% during the fourth quarter. United Bank now owns 4,235 shares of the industrial products company's stock valued at $1,794,000 after purchasing an additional 615 shares in the last quarter. Brandywine Global Investment Management LLC lifted its position in Deere & Company by 8.0% during the fourth quarter. Brandywine Global Investment Management LLC now owns 373,567 shares of the industrial products company's stock valued at $158,280,000 after purchasing an additional 27,643 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its stake in shares of Deere & Company by 38.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 619,442 shares of the industrial products company's stock worth $262,458,000 after buying an additional 173,170 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Remove Ads

Analyst Ratings Changes

A number of brokerages have commented on DE. Oppenheimer upped their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Jefferies Financial Group cut Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Evercore ISI boosted their price objective on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. StockNews.com upgraded Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $460.00.

Deere & Company Stock Performance

Shares of DE traded down $22.29 during mid-day trading on Thursday, hitting $448.61. 1,740,171 shares of the company's stock were exchanged, compared to its average volume of 1,403,555. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The stock's 50-day simple moving average is $478.09 and its 200-day simple moving average is $441.50. The firm has a market cap of $121.76 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results 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 return on equity of 27.31% and a net margin of 12.94%. On average, equities research analysts expect 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. Investors of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.44%. 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 news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

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.