Deere & Company (NYSE:DE) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 70.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,178 shares of the industrial products company's stock after selling 68,083 shares during the period. Mackenzie Financial Corp's holdings in Deere & Company were worth $12,363,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after buying an additional 1,095,736 shares in the last quarter. Capital World Investors increased its holdings in Deere & Company by 2.7% in the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after purchasing an additional 157,224 shares in the last quarter. FMR LLC increased its holdings in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. Geode Capital Management LLC increased its holdings in Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after purchasing an additional 97,203 shares in the last quarter. Finally, Norges Bank acquired a new position in Deere & Company in the 4th quarter worth about $1,244,094,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE:DE traded up $2.32 during trading on Friday, hitting $505.77. 1,686,451 shares of the company's stock were exchanged, compared to its average volume of 1,404,510. The company has a market cap of $137.27 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.14 and a beta of 1.08. The business's 50-day simple moving average is $475.54 and its 200 day simple moving average is $462.00. 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 has a 52-week low of $340.20 and a 52-week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Deere & Company's revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.53 EPS. As a group, equities analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.28%. Deere & Company's payout ratio is presently 31.35%.

Analysts Set New Price Targets

DE has been the topic of a number of analyst reports. Evercore ISI upped their price target on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Baird R W downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Bank of America increased their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. increased their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, DA Davidson reaffirmed a "buy" rating and set a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $515.19.

Deere & Company Profile

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.