Investment House LLC bought a new stake in shares of Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,385 shares of the industrial products company’s stock, valued at approximately $217,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Deere & Company by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock valued at $2,668,774,000 after acquiring an additional 1,153,484 shares in the last quarter. Capital International Investors raised its stake in shares of Deere & Company by 35.4% during the 3rd quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock worth $1,106,131,000 after purchasing an additional 2,300,531 shares during the period. FMR LLC raised its stake in shares of Deere & Company by 18.3% during the 2nd quarter. FMR LLC now owns 5,032,313 shares of the industrial products company’s stock worth $621,943,000 after purchasing an additional 777,519 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Deere & Company by 21.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,621,764 shares of the industrial products company’s stock worth $454,857,000 after purchasing an additional 634,001 shares during the period. Finally, Capital World Investors raised its stake in shares of Deere & Company by 8.3% during the 2nd quarter. Capital World Investors now owns 3,250,000 shares of the industrial products company’s stock worth $401,668,000 after purchasing an additional 250,000 shares during the period. 66.84% of the stock is owned by institutional investors and hedge funds.
In other news, insider Max A. Guinn sold 11,235 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $168.68, for a total transaction of $1,895,119.80. Following the transaction, the insider now directly owns 39,406 shares of the company’s stock, valued at $6,647,004.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James M. Field sold 22,095 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $170.06, for a total value of $3,757,475.70. Following the completion of the transaction, the insider now directly owns 95,832 shares in the company, valued at approximately $16,297,189.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,603 shares of company stock worth $28,058,143. Insiders own 0.74% of the company’s stock.
Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm had revenue of $7.09 billion for the quarter, compared to analysts’ expectations of $6.91 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. equities research analysts predict that Deere & Company will post 8.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, December 29th were paid a $0.60 dividend. The ex-dividend date was Thursday, December 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.46%. Deere & Company’s dividend payout ratio is currently 36.14%.
DE has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated a “buy” rating and set a $150.00 target price on shares of Deere & Company in a research note on Thursday, November 2nd. Wells Fargo & Co reissued an “outperform” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Deere & Company in a report on Wednesday, January 10th. Piper Jaffray Companies lifted their target price on Deere & Company from $142.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday. ValuEngine raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Barclays raised Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 target price for the company in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Deere & Company presently has a consensus rating of “Buy” and an average price target of $158.39.
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About Deere & Company
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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