Redwood Investment Management LLC Sells 14,515 Shares of Deere & Company (NYSE:DE)

Redwood Investment Management LLC cut its holdings in Deere & Company (NYSE:DE - Free Report) by 95.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 761 shares of the industrial products company's stock after selling 14,515 shares during the quarter. Redwood Investment Management LLC's holdings in Deere & Company were worth $322,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Deere & Company during the 4th quarter valued at about $1,244,094,000. Castlekeep Investment Advisors LLC bought a new position in Deere & Company during the 4th quarter valued at about $541,437,000. Price T Rowe Associates Inc. MD lifted its stake in 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 valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. FMR LLC lifted its stake in Deere & Company by 22.9% during the 4th 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. Finally, Raymond James Financial Inc. bought a new position in Deere & Company during the 4th quarter valued at about $296,232,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DE has been the topic of several recent research reports. Morgan Stanley increased their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Citigroup increased their price objective on shares of Deere & Company from $450.00 to $550.00 and gave the stock a "neutral" rating in a research note on Monday. Robert W. Baird raised their target price on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research note on Friday. DA Davidson restated a "buy" rating and set a $542.00 target price on shares of Deere & Company in a research note on Friday. Finally, Evercore ISI raised their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research note on Monday. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of "Hold" and an average price target of $513.00.

Deere & Company Price Performance

DE traded down $3.97 during trading hours on Tuesday, hitting $525.86. The company's stock had a trading volume of 1,250,452 shares, compared to its average volume of 1,416,574. The business's 50-day moving average price is $469.45 and its 200-day moving average price is $455.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock has a market cap of $142.73 billion, a price-to-earnings ratio of 23.31, 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 (NYSE:DE - Get Free Report) last posted 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 company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the firm earned $8.53 earnings per share. Deere & Company's quarterly revenue was down 17.9% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced 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 1.23%. Deere & Company's dividend payout ratio (DPR) is 28.72%.

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.