Fmr LLC Decreases Position in Deere & Company (DE)

Fmr LLC reduced its position in shares of Deere & Company (NYSE:DE) by 15.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,554,074 shares of the industrial products company’s stock after selling 1,566,798 shares during the quarter. Fmr LLC owned 2.66% of Deere & Company worth $1,285,935,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in DE. Third Point LLC bought a new stake in Deere & Company during the 2nd quarter valued at about $153,780,000. Charles Schwab Investment Advisory Inc. bought a new stake in Deere & Company during the 2nd quarter valued at about $138,797,000. Findlay Park Partners LLP increased its stake in Deere & Company by 86.4% during the 2nd quarter. Findlay Park Partners LLP now owns 1,359,572 shares of the industrial products company’s stock valued at $190,068,000 after purchasing an additional 630,000 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in Deere & Company by 15,691.5% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 515,749 shares of the industrial products company’s stock valued at $3,654,000 after purchasing an additional 512,483 shares in the last quarter. Finally, Sarasin & Partners LLP increased its stake in Deere & Company by 139.0% during the 2nd quarter. Sarasin & Partners LLP now owns 764,160 shares of the industrial products company’s stock valued at $106,830,000 after purchasing an additional 444,363 shares in the last quarter. Institutional investors and hedge funds own 65.26% of the company’s stock.

DE opened at $142.84 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.66 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $45.64 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97. Deere & Company has a 12-month low of $128.32 and a 12-month high of $175.26.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 21st. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.14). The business had revenue of $8.34 billion during the quarter, compared to analysts’ expectations of $8.59 billion. Deere & Company had a return on equity of 29.61% and a net margin of 6.34%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.57 EPS. On average, equities research analysts predict that Deere & Company will post 11.56 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Friday, September 28th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, September 27th. Deere & Company’s payout ratio is 29.39%.

A number of research firms have weighed in on DE. Stifel Nicolaus reduced their price objective on shares of Deere & Company from $193.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, August 20th. Robert W. Baird set a $165.00 price target on shares of Deere & Company and gave the company a “buy” rating in a report on Friday. UBS Group set a $177.00 price target on shares of Deere & Company and gave the company a “buy” rating in a report on Friday. Deutsche Bank set a $155.00 price target on shares of Deere & Company and gave the company a “hold” rating in a report on Wednesday, September 5th. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Deere & Company in a report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. Deere & Company presently has a consensus rating of “Buy” and an average price target of $176.29.

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Deere & Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.

Further Reading: Growth Stocks

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

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