Bristol John W & Co. Inc. NY cut its position in Deere & Company (NYSE:DE - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 115,787 shares of the industrial products company's stock after selling 2,600 shares during the quarter. Bristol John W & Co. Inc. NY's holdings in Deere & Company were worth $49,059,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of DE. Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. Capital World Investors raised its holdings in shares of Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after acquiring an additional 157,224 shares during the period. FMR LLC raised its holdings in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Geode Capital Management LLC raised its holdings in shares of Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after acquiring an additional 97,203 shares during the period. Finally, Norges Bank purchased a new position in Deere & Company during the fourth quarter valued at approximately $1,244,094,000. 68.58% of the stock is currently owned by institutional investors.
Deere & Company Price Performance
Shares of NYSE DE traded down $1.74 during midday trading on Wednesday, reaching $507.89. 739,835 shares of the company were exchanged, compared to its average volume of 1,405,844. The stock's 50-day moving average price is $474.56 and its 200-day moving average price is $460.54. The stock has a market cap of $137.85 billion, a P/E ratio of 22.51, a PEG ratio of 2.14 and a beta of 1.08. Deere & Company has a one year low of $340.20 and a one year high of $533.78. 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 (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the previous year, the firm posted $8.53 earnings per share. The company's revenue was down 17.9% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.28%. Deere & Company's dividend payout ratio is 31.35%.
Wall Street Analysts Forecast Growth
DE has been the subject of several recent research reports. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. Morgan Stanley boosted their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Robert W. Baird upped their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $516.75.
Read Our Latest Research Report on DE
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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