James Investment Research Inc. lessened its stake in Deere & Company (NYSE:DE) by 16.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 78,024 shares of the industrial products company’s stock after selling 15,693 shares during the quarter. James Investment Research Inc.’s holdings in Deere & Company were worth $11,639,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Packer & Co Ltd increased its holdings in shares of Deere & Company by 625.9% in the 4th quarter. Packer & Co Ltd now owns 1,239,800 shares of the industrial products company’s stock worth $25,476,000 after acquiring an additional 1,069,015 shares during the period. Standard Life Aberdeen plc grew its position in shares of Deere & Company by 532.2% in the third quarter. Standard Life Aberdeen plc now owns 832,656 shares of the industrial products company’s stock valued at $125,190,000 after purchasing an additional 700,946 shares in the last quarter. Morgan Stanley grew its position in shares of Deere & Company by 56.1% in the 3rd quarter. Morgan Stanley now owns 1,874,873 shares of the industrial products company’s stock worth $281,850,000 after buying an additional 674,058 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Deere & Company by 4,365.5% in the 3rd quarter. Clearbridge Investments LLC now owns 425,870 shares of the industrial products company’s stock worth $64,021,000 after purchasing an additional 416,333 shares in the last quarter. Finally, Columbus Hill Capital Management L.P. acquired a new position in shares of Deere & Company during the third quarter valued at about $58,935,000. 67.39% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. UBS Group set a $177.00 price target on shares of Deere & Company and gave the company a “buy” rating in a report on Friday, November 23rd. Robert W. Baird set a $165.00 price target on shares of Deere & Company and gave the stock a “buy” rating in a research note on Friday, November 23rd. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research report on Tuesday, January 15th. Argus boosted their price target on Deere & Company from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 9th. Finally, Credit Suisse Group restated a “buy” rating and issued a $211.00 target price on shares of Deere & Company in a report on Tuesday, January 8th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Deere & Company currently has an average rating of “Buy” and a consensus price target of $177.06.
Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 21st. The industrial products company reported $2.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.44 by ($0.14). Deere & Company had a return on equity of 29.61% and a net margin of 6.34%. The firm had revenue of $8.34 billion during the quarter, compared to analysts’ expectations of $8.59 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm’s revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 11.43 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Monday, December 31st were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, December 28th. This is a boost from Deere & Company’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 1.87%. Deere & Company’s dividend payout ratio is 32.37%.
In other Deere & Company news, CFO Rajesh Kalathur sold 11,133 shares of the company’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $151.47, for a total transaction of $1,686,315.51. Following the completion of the sale, the chief financial officer now owns 42,244 shares in the company, valued at approximately $6,398,698.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John C. May II sold 11,661 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $160.21, for a total value of $1,868,208.81. Following the transaction, the insider now owns 55,743 shares in the company, valued at $8,930,586.03. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.
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Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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