Nuveen Asset Management LLC cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 6.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,186,741 shares of the industrial products company's stock after selling 85,161 shares during the period. Nuveen Asset Management LLC owned about 0.44% of Deere & Company worth $502,822,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Pineridge Advisors LLC raised its stake in Deere & Company by 60.5% in the 4th 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 during the last quarter. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company in the fourth quarter worth about $35,000. Sierra Ocean LLC purchased a new position in shares of Deere & Company in the fourth quarter worth about $44,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in Deere & Company during the fourth quarter worth about $48,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Deere & Company Trading Up 3.0%
DE stock traded up $15.47 during mid-day trading on Friday, hitting $531.79. 2,322,036 shares of the company were exchanged, compared to its average volume of 1,416,780. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The firm has a market capitalization of $144.34 billion, a P/E ratio of 23.57, a PEG ratio of 2.14 and a beta of 1.08. The business has a fifty day simple moving average of $468.29 and a 200-day simple moving average of $454.67. 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 issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $10.80 billion. During the same period in the prior year, the business posted $8.53 EPS. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.22%. Deere & Company's dividend payout ratio is currently 28.72%.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday, March 7th. Evercore ISI increased their price target on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Barclays lifted their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday. Finally, StockNews.com upgraded Deere & Company from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $504.38.
Get Our Latest Stock Analysis on Deere & Company
Insider Activity
In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 approximately $37,484,675.58. This represents a 24.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.
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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