Palisades Hudson Asset Management L.P. Sells 87 Shares of Deere & Company (DE)

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Palisades Hudson Asset Management L.P. lowered its position in Deere & Company (NYSE:DE) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,608 shares of the industrial products company’s stock after selling 87 shares during the quarter. Palisades Hudson Asset Management L.P.’s holdings in Deere & Company were worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in DE. Vanguard Group Inc increased its position in Deere & Company by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 22,698,615 shares of the industrial products company’s stock valued at $3,412,282,000 after purchasing an additional 210,597 shares during the period. FMR LLC increased its position in Deere & Company by 3.2% during the 2nd quarter. FMR LLC now owns 10,120,872 shares of the industrial products company’s stock valued at $1,414,898,000 after purchasing an additional 316,150 shares during the period. Capital International Investors increased its position in Deere & Company by 2.8% during the 3rd quarter. Capital International Investors now owns 6,838,296 shares of the industrial products company’s stock valued at $1,028,001,000 after purchasing an additional 188,566 shares during the period. Loomis Sayles & Co. L P increased its position in Deere & Company by 2.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,750,728 shares of the industrial products company’s stock valued at $1,014,837,000 after purchasing an additional 141,869 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Deere & Company by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,909,749 shares of the industrial products company’s stock valued at $587,750,000 after purchasing an additional 37,487 shares during the period. 65.85% of the stock is owned by institutional investors.

In related news, insider John C. May II sold 11,661 shares of the stock in a transaction on 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 transaction, the insider now directly owns 55,743 shares in the company, valued at approximately $8,930,586.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Rajesh Kalathur sold 11,133 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 42,244 shares in the company, valued at $6,398,698.68. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

Shares of DE stock opened at $162.75 on Friday. The company has a market cap of $52.06 billion, a PE ratio of 17.33, a P/E/G ratio of 1.59 and a beta of 0.89. Deere & Company has a 52 week low of $128.32 and a 52 week high of $175.26. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.92 and a quick ratio of 1.67.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 21st. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.14). The company had revenue of $8.34 billion for the quarter, compared to analyst estimates of $8.59 billion. Deere & Company had a return on equity of 29.61% and a net margin of 6.34%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business earned $1.57 EPS. On average, sell-side analysts expect that Deere & Company will post 11.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Monday, December 31st were issued a $0.76 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $0.69. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, December 28th. Deere & Company’s dividend payout ratio (DPR) is currently 32.37%.

A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. OTR Global raised shares of Deere & Company to a “positive” rating in a research report on Friday, January 18th. Argus increased their target price on shares of Deere & Company from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 9th. Credit Suisse Group reissued a “buy” rating and set a $211.00 target price on shares of Deere & Company in a research report on Tuesday, January 8th. Finally, Bank of America reissued a “buy” rating and set a $173.00 target price (up previously from $163.00) on shares of Deere & Company in a research report on Monday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $176.75.

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Deere & Company 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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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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