CoreCommodity Management LLC Sells 4,952 Shares of Deere & Company (NYSE:DE)

CoreCommodity Management LLC trimmed its position in shares of Deere & Company (NYSE:DE - Free Report) by 35.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,864 shares of the industrial products company's stock after selling 4,952 shares during the period. Deere & Company comprises 0.7% of CoreCommodity Management LLC's portfolio, making the stock its 20th largest position. CoreCommodity Management LLC's holdings in Deere & Company were worth $3,756,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Pineridge Advisors LLC grew its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after buying an additional 26 shares during the last quarter. YANKCOM Partnership bought a new stake in Deere & Company in the fourth quarter valued at $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company during the 4th quarter valued at $35,000. Sierra Ocean LLC bought a new position in Deere & Company in the 4th quarter worth $44,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth about $48,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the subject of a number of research reports. Oppenheimer increased their price target on shares of Deere & Company from $510.00 to $513.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 22nd. Morgan Stanley increased their target price on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Robert W. Baird reaffirmed a "neutral" rating and issued a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Finally, Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $460.21.

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 transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company's stock.

Deere & Company Stock Performance

Shares of DE stock opened at $476.24 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company has a 50 day moving average price of $464.78 and a 200-day moving average price of $449.60. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The firm has a market capitalization of $129.26 billion, a PE ratio of 21.11, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.36%. Deere & Company's payout ratio is 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.

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