California State Teachers Retirement System lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 407,529 shares of the industrial products company's stock after selling 14,129 shares during the quarter. California State Teachers Retirement System owned 0.15% of Deere & Company worth $172,670,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Pineridge Advisors LLC lifted its holdings in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $32,000. YANKCOM Partnership bought a new stake in shares of Deere & Company in the 4th quarter valued at about $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Insider Transactions at Deere & Company
In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on DE. Citigroup dropped their price target on shares of Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. StockNews.com lowered Deere & Company from a "hold" rating to a "sell" rating in a report on Sunday, April 6th. UBS Group cut their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. Finally, Oppenheimer lifted their price objective on Deere & Company from $510.00 to $513.00 and gave the company an "outperform" rating in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $460.21.
Read Our Latest Report on Deere & Company
Deere & Company Stock Up 0.7 %
DE traded up $3.01 on Wednesday, hitting $463.65. The company had a trading volume of 1,325,802 shares, compared to its average volume of 1,421,609. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The stock has a fifty day simple moving average of $464.99 and a 200-day simple moving average of $447.28. The firm has a market capitalization of $125.84 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.
Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping 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%. As a group, equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.
About Deere & Company
(
Free Report)
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.
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