Deere & Company (NYSE:DE) Holdings Raised by Abbrea Capital LLC

Abbrea Capital LLC raised its stake in shares of Deere & Company (NYSE:DE) by 2.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,288 shares of the industrial products company’s stock after purchasing an additional 35 shares during the period. Abbrea Capital LLC’s holdings in Deere & Company were worth $517,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DE. Morgan Stanley lifted its position in shares of Deere & Company by 1.3% in the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after buying an additional 65,006 shares during the last quarter. FMR LLC raised its position in shares of Deere & Company by 6.6% in the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after purchasing an additional 269,571 shares during the period. Northern Trust Corp increased its stake in Deere & Company by 2.5% in the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after acquiring an additional 73,601 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Deere & Company by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,539,699 shares of the industrial products company’s stock valued at $581,052,000 after buying an additional 33,946 shares during the period. Finally, Rothschild & Co Wealth Management UK Ltd increased its position in shares of Deere & Company by 1.1% in the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,146,220 shares of the industrial products company’s stock valued at $432,561,000 after buying an additional 12,825 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DE shares. Morgan Stanley initiated coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective on the stock. Evercore ISI boosted their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Wells Fargo & Company cut their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Finally, Citigroup lowered their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $0.56 during trading on Thursday, reaching $394.06. 1,272,240 shares of the stock were exchanged, compared to its average volume of 1,478,239. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The stock has a 50-day moving average price of $386.62 and a 200-day moving average price of $383.47. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The firm has a market cap of $109.69 billion, a PE ratio of 11.29, a PEG ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the business earned $6.55 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Research analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s payout ratio is 17.12%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.