Quantinno Capital Management LP Boosts Stock Position in Deere & Company (NYSE:DE)

Quantinno Capital Management LP grew its position in Deere & Company (NYSE:DE - Free Report) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,672 shares of the industrial products company's stock after buying an additional 3,320 shares during the quarter. Quantinno Capital Management LP's holdings in Deere & Company were worth $9,183,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake 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 last quarter. Capital World Investors boosted its stake 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 last quarter. FMR LLC boosted its stake 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 last quarter. Geode Capital Management LLC boosted its stake 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 last quarter. Finally, Norges Bank acquired a new stake in shares of Deere & Company during the fourth quarter valued at $1,244,094,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

DE has been the topic of a number of research analyst reports. StockNews.com raised Deere & Company from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. UBS Group decreased their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. DA Davidson reissued a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a research note on Friday. Oppenheimer raised their price target on Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Citigroup decreased their price target on Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of "Hold" and a consensus target price of $504.38.

Deere & Company Trading Up 3.0%

Shares of Deere & Company stock traded up $15.47 during trading hours on Friday, reaching $531.79. The stock had a trading volume of 2,322,036 shares, compared to its average volume of 1,416,780. The firm has a 50 day simple moving average of $468.29 and a two-hundred day simple moving average of $455.02. The firm has a market capitalization of $144.34 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

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

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.22%. The ex-dividend date was Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. The trade was a 24.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company 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.