Deere & Company (NYSE:DE) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd reduced its stake in shares of Deere & Company (NYSE:DE) by 18.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 85,759 shares of the industrial products company’s stock after selling 18,887 shares during the quarter. Ninety One UK Ltd’s holdings in Deere & Company were worth $34,292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Briaud Financial Planning Inc acquired a new position in Deere & Company in the third quarter valued at $25,000. Retirement Group LLC boosted its holdings in shares of Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 45 shares in the last quarter. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $28,000. Rakuten Securities Inc. purchased a new stake in Deere & Company during the fourth quarter worth about $28,000. Finally, Worth Asset Management LLC purchased a new stake in Deere & Company during the first quarter worth about $28,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DE shares. Melius Research reissued a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Citigroup cut their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Evercore ISI lifted their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Up 1.0 %

DE stock opened at $400.87 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The firm’s 50-day simple moving average is $385.47 and its 200 day simple moving average is $382.79. The stock has a market cap of $111.59 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the company earned $6.55 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a $1.47 dividend. 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 1.47%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Deere & Company 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.