Financial Advocates Investment Management Has $449,000 Position in Deere & Company (DE)

Financial Advocates Investment Management cut its stake in Deere & Company (NYSE:DE) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,008 shares of the industrial products company’s stock after selling 226 shares during the quarter. Financial Advocates Investment Management’s holdings in Deere & Company were worth $449,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its position in Deere & Company by 14,550.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 5,179,386 shares in the last quarter. Packer & Co Ltd grew its position in 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 valued at $25,476,000 after acquiring an additional 1,069,015 shares in the last quarter. Standard Life Aberdeen plc grew its position in Deere & Company by 532.2% in the 3rd quarter. Standard Life Aberdeen plc now owns 832,656 shares of the industrial products company’s stock valued at $125,190,000 after acquiring an additional 700,946 shares in the last quarter. Morgan Stanley boosted its stake 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 valued at $281,850,000 after buying an additional 674,058 shares during the period. Finally, Findlay Park Partners LLP boosted its stake in shares of Deere & Company by 34.9% in the 4th quarter. Findlay Park Partners LLP now owns 1,834,572 shares of the industrial products company’s stock valued at $273,663,000 after buying an additional 475,000 shares during the period. 68.26% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the company. Argus lifted their price objective on Deere & Company to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. Barclays restated a “buy” rating and set a $180.00 target price on shares of Deere & Company in a research note on Tuesday, February 19th. DZ Bank cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Citigroup cut their price target on Deere & Company from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, February 19th. Finally, Credit Suisse Group cut their price target on Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 19th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $176.73.

DE traded up $1.03 during trading on Monday, reaching $162.49. 1,037,347 shares of the stock were exchanged, compared to its average volume of 2,023,852. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.68 and a current ratio of 1.98. The company has a market cap of $51.42 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 1.68 and a beta of 0.90. Deere & Company has a 1 year low of $128.32 and a 1 year high of $167.82.

Deere & Company (NYSE:DE) last posted its earnings results on Friday, February 15th. The industrial products company reported $1.54 EPS for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). The firm had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 earnings per share. On average, analysts predict that Deere & Company will post 11.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th will be given a dividend of $0.76 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 1.87%. Deere & Company’s payout ratio is 32.37%.

In other news, insider John C. May II sold 11,661 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 55,743 shares in the company, valued at $8,930,586.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is owned by corporate insiders.

TRADEMARK VIOLATION WARNING: This report was posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.baseballdailydigest.com/news/2019/04/16/deere-company-de-position-reduced-by-financial-advocates-investment-management.html.

About Deere & Company

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.

See Also: What is the Difference Between Common Shares and Convertible Shares?

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.