Ingalls & Snyder LLC cut its stake in Deere & Company (NYSE:DE) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,743 shares of the industrial products company’s stock after selling 262 shares during the period. Ingalls & Snyder LLC’s holdings in Deere & Company were worth $2,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Honkamp Krueger Financial Services Inc. increased its position in Deere & Company by 4.9% in the fourth quarter. Honkamp Krueger Financial Services Inc. now owns 9,096 shares of the industrial products company’s stock worth $1,576,000 after buying an additional 426 shares during the period. Dubuque Bank & Trust Co. increased its holdings in shares of Deere & Company by 8.8% during the fourth quarter. Dubuque Bank & Trust Co. now owns 1,382 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 112 shares during the period. Family Legacy Inc. increased its holdings in shares of Deere & Company by 12.2% during the fourth quarter. Family Legacy Inc. now owns 6,531 shares of the industrial products company’s stock valued at $1,149,000 after purchasing an additional 711 shares during the period. Windward Capital Management Co. CA increased its holdings in shares of Deere & Company by 22.9% during the fourth quarter. Windward Capital Management Co. CA now owns 18,796 shares of the industrial products company’s stock valued at $3,257,000 after purchasing an additional 3,501 shares during the period. Finally, Donaldson Capital Management LLC increased its holdings in shares of Deere & Company by 70.6% during the fourth quarter. Donaldson Capital Management LLC now owns 2,102 shares of the industrial products company’s stock valued at $364,000 after purchasing an additional 870 shares during the period. 67.53% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO John C. May II sold 8,112 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $174.11, for a total value of $1,412,380.32. Following the completion of the transaction, the chief executive officer now owns 49,157 shares in the company, valued at approximately $8,558,725.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Samuel R. Allen sold 114,253 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $178.30, for a total value of $20,371,309.90. Following the completion of the transaction, the chairman now owns 423,497 shares of the company’s stock, valued at approximately $75,509,515.10. The disclosure for this sale can be found here. Insiders sold a total of 152,228 shares of company stock valued at $26,934,906 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on DE shares. Wells Fargo & Co raised their price target on Deere & Company from $177.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday. DZ Bank lowered Deere & Company from a “hold” rating to a “sell” rating and set a $148.00 price target on the stock. in a report on Friday, November 29th. JPMorgan Chase & Co. reissued a “sell” rating and set a $140.00 price target on shares of Deere & Company in a report on Monday, November 25th. Citigroup lowered their price target on Deere & Company from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Monday, December 2nd. Finally, Argus reaffirmed a “positive” rating and set a $185.00 target price on shares of Deere & Company in a research note on Tuesday, December 3rd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $172.79.
Shares of DE stock opened at $172.92 on Thursday. The company has a quick ratio of 1.80, a current ratio of 2.04 and a debt-to-equity ratio of 2.65. Deere & Company has a fifty-two week low of $132.68 and a fifty-two week high of $180.48. The stock has a market capitalization of $54.67 billion, a P/E ratio of 17.40, a P/E/G ratio of 4.11 and a beta of 1.13. The stock has a 50-day simple moving average of $172.16 and a 200 day simple moving average of $166.72.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.01. Deere & Company had a return on equity of 27.11% and a net margin of 8.29%. The business had revenue of $8.70 billion during the quarter, compared to analyst estimates of $8.41 billion. During the same quarter last year, the company posted $2.30 EPS. Deere & Company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 9.44 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $0.76 dividend. The ex-dividend date is Monday, December 30th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.76%. Deere & Company’s dividend payout ratio (DPR) is 30.58%.
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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