Dearborn Partners LLC lifted its stake in Deere & Company (NYSE:DE) by 3.2% in the 4th quarter, HoldingsChannel reports. The fund owned 3,258 shares of the industrial products company’s stock after purchasing an additional 100 shares during the quarter. Dearborn Partners LLC’s holdings in Deere & Company were worth $486,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spinnaker Trust increased its position in Deere & Company by 8.7% during the 4th quarter. Spinnaker Trust now owns 2,500 shares of the industrial products company’s stock valued at $372,000 after buying an additional 200 shares in the last quarter. Pinnacle Financial Partners Inc. increased its position in Deere & Company by 6.7% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 9,910 shares of the industrial products company’s stock valued at $1,478,000 after buying an additional 623 shares in the last quarter. BB&T Securities LLC increased its position in Deere & Company by 1.0% during the 4th quarter. BB&T Securities LLC now owns 75,220 shares of the industrial products company’s stock valued at $11,219,000 after buying an additional 747 shares in the last quarter. Hartford Investment Management Co. increased its position in Deere & Company by 3.8% during the 4th quarter. Hartford Investment Management Co. now owns 37,175 shares of the industrial products company’s stock valued at $5,545,000 after buying an additional 1,372 shares in the last quarter. Finally, Gamble Jones Investment Counsel increased its position in Deere & Company by 6.2% during the 4th quarter. Gamble Jones Investment Counsel now owns 31,267 shares of the industrial products company’s stock valued at $4,664,000 after buying an additional 1,830 shares in the last quarter. 65.85% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Rajesh Kalathur sold 11,133 shares of the company’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $151.47, for a total value of $1,686,315.51. Following the sale, the chief financial officer now owns 42,244 shares in the company, valued at $6,398,698.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John C. May II sold 11,661 shares of the company’s stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $160.21, for a total value of $1,868,208.81. Following the completion of the sale, the insider now owns 55,743 shares in the company, valued at approximately $8,930,586.03. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.
Shares of DE stock opened at $162.75 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.67 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $51.76 billion, a PE ratio of 17.33, a PEG ratio of 1.58 and a beta of 0.89. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $175.26.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 21st. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.14). The firm had revenue of $8.34 billion during the quarter, compared to analyst estimates of $8.59 billion. Deere & Company had a net margin of 6.34% and a return on equity of 29.61%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.57 earnings per share. Research analysts anticipate that Deere & Company will post 11.43 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Monday, December 31st were paid a $0.76 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, December 28th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.87%. Deere & Company’s dividend payout ratio is presently 32.37%.
Several research analysts recently issued reports on DE shares. UBS Group set a $177.00 target price on Deere & Company and gave the company a “buy” rating in a research report on Friday, November 23rd. Robert W. Baird set a $165.00 target price on Deere & Company and gave the company a “buy” rating in a research report on Friday, November 23rd. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $176.00 price objective on the stock in a report on Tuesday, January 15th. Argus increased their price objective on Deere & Company from $166.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 9th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $211.00 price objective on shares of Deere & Company in a report on Tuesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Deere & Company presently has an average rating of “Buy” and an average price target of $176.75.
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Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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