Ameriprise Financial Inc. Sells 19,479 Shares of Deere & Company (NYSE:DE)

Ameriprise Financial Inc. cut its holdings in Deere & Company (NYSE:DE - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 530,240 shares of the industrial products company's stock after selling 19,479 shares during the quarter. Ameriprise Financial Inc. owned about 0.19% of Deere & Company worth $224,660,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB boosted its position in Deere & Company by 765.4% in the fourth quarter. Nordea Investment Management AB now owns 209,616 shares of the industrial products company's stock valued at $88,969,000 after buying an additional 185,395 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in shares of Deere & Company by 1.0% in the 4th quarter. CWA Asset Management Group LLC now owns 41,579 shares of the industrial products company's stock valued at $17,617,000 after acquiring an additional 396 shares during the last quarter. Neville Rodie & Shaw Inc. increased its stake in shares of Deere & Company by 3.5% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 4,425 shares of the industrial products company's stock worth $1,875,000 after acquiring an additional 149 shares during the period. Spartan Planning & Wealth Management purchased a new position in shares of Deere & Company during the fourth quarter worth $206,000. Finally, First County Bank CT lifted its position in Deere & Company by 5.6% during the fourth quarter. First County Bank CT now owns 748 shares of the industrial products company's stock valued at $317,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DE. Citigroup decreased their price objective on Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Morgan Stanley upped their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Argus set a $510.00 target price on shares of Deere & Company in a research note on Friday, March 7th. Evercore ISI raised their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Finally, Baird R W lowered shares of 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 assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $460.21.

Deere & Company Price Performance

Deere & Company stock opened at $481.66 on Tuesday. The company has a fifty day simple moving average of $464.87 and a 200-day simple moving average of $449.41. The firm has a market capitalization of $130.73 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.14 and a beta of 1.08. 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.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is currently 28.72%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.