LPL Financial LLC lifted its position in Deere & Company (NYSE:DE) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,560 shares of the industrial products company’s stock after purchasing an additional 14,480 shares during the quarter. LPL Financial LLC’s holdings in Deere & Company were worth $11,043,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in DE. Capital International Investors boosted its position in shares of Deere & Company by 35.4% in the 3rd quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock valued at $1,106,131,000 after purchasing an additional 2,300,531 shares during the period. Janus Henderson Group PLC boosted its position in shares of Deere & Company by 128.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,587,339 shares of the industrial products company’s stock valued at $324,942,000 after purchasing an additional 1,453,754 shares during the period. Two Sigma Advisers LP boosted its position in shares of Deere & Company by 1,140.3% in the 4th quarter. Two Sigma Advisers LP now owns 987,462 shares of the industrial products company’s stock valued at $154,548,000 after purchasing an additional 907,849 shares during the period. SG Americas Securities LLC boosted its position in shares of Deere & Company by 123.5% in the 4th quarter. SG Americas Securities LLC now owns 67,909 shares of the industrial products company’s stock valued at $10,628,000 after purchasing an additional 357,198 shares during the period. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $48,800,000. 67.31% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Samuel R. Allen sold 269,353 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $163.83, for a total transaction of $44,128,101.99. Following the completion of the transaction, the chief executive officer now directly owns 361,166 shares of the company’s stock, valued at approximately $59,169,825.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Max A. Guinn sold 11,235 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $168.68, for a total value of $1,895,119.80. Following the transaction, the insider now directly owns 39,406 shares of the company’s stock, valued at $6,647,004.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 380,397 shares of company stock valued at $62,811,005. Company insiders own 0.74% of the company’s stock.
A number of analysts have weighed in on the company. Morgan Stanley assumed coverage on Deere & Company in a research report on Friday, March 2nd. They set an “overweight” rating and a $195.00 price objective for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $195.00 price objective (up from $190.00) on shares of Deere & Company in a research report on Wednesday, February 21st. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Wednesday, February 21st. TheStreet cut Deere & Company from a “b+” rating to a “c+” rating in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $170.00 price objective (up from $150.00) on shares of Deere & Company in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. Deere & Company has an average rating of “Buy” and an average price target of $172.07.
DE stock opened at $159.99 on Wednesday. The stock has a market capitalization of $51,653.87, a P/E ratio of 36.61, a PEG ratio of 2.04 and a beta of 0.76. Deere & Company has a one year low of $106.93 and a one year high of $175.26. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.69 and a current ratio of 1.98.
Deere & Company (NYSE:DE) last issued its earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.15. The business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.41 billion. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. research analysts anticipate that Deere & Company will post 9.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, March 28th. Deere & Company’s dividend payout ratio (DPR) is 54.92%.
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Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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