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.
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.
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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.
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