Deere & Company (NYSE:DE) Shares Bought by Westpac Banking Corp

Westpac Banking Corp boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 17.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,904 shares of the industrial products company's stock after buying an additional 1,809 shares during the quarter. Westpac Banking Corp's holdings in Deere & Company were worth $5,044,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Deere & Company during the fourth quarter valued at approximately $1,244,094,000. Wellington Management Group LLP boosted 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 valued at $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Deere & Company in the fourth quarter valued at about $296,232,000. Proficio Capital Partners LLC raised its holdings in Deere & Company by 52,200.3% in the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock worth $224,920,000 after purchasing an additional 529,833 shares in the last quarter. Finally, Strategic Wealth Investment Group LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at about $148,359,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE:DE traded up $2.49 during trading hours on Tuesday, hitting $425.84. 612,519 shares of the stock were exchanged, compared to its average volume of 1,421,325. The company has a market cap of $115.58 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.14 and a beta of 1.00. The firm's fifty day moving average price is $475.31 and its 200 day moving average price is $442.47. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

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Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared 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 1.52%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio is currently 28.72%.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Argus set a $510.00 price objective on shares of Deere & Company in a research report on Friday, March 7th. Evercore ISI lifted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. UBS Group decreased their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday. Robert W. Baird restated a "neutral" rating and set a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. Finally, Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $458.84.

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.