Virtus Fund Advisers LLC Reduces Position in Deere & Company (DE)

Virtus Fund Advisers LLC lessened its stake in shares of Deere & Company (NYSE:DE) by 2.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 70,253 shares of the industrial products company’s stock after selling 1,967 shares during the period. Virtus Fund Advisers LLC’s holdings in Deere & Company were worth $11,038,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in DE. Capital International Investors grew its stake 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 worth $1,106,131,000 after acquiring an additional 2,300,531 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Deere & Company by 21.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,621,764 shares of the industrial products company’s stock worth $454,857,000 after acquiring an additional 634,001 shares in the last quarter. Janus Henderson Group PLC grew its stake 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 worth $324,942,000 after acquiring an additional 1,453,754 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Deere & Company by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 1,660,073 shares of the industrial products company’s stock worth $208,473,000 after acquiring an additional 36,865 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Deere & Company by 2.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,268,677 shares of the industrial products company’s stock worth $198,561,000 after acquiring an additional 32,622 shares in the last quarter. Institutional investors own 66.24% of the company’s stock.

In other news, insider Cory J. Reed sold 6,416 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $151.54, for a total value of $972,280.64. Following the sale, the insider now directly owns 11,383 shares of the company’s stock, valued at $1,724,979.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rajesh Kalathur sold 4,519 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total transaction of $672,969.48. Following the completion of the sale, the chief financial officer now directly owns 36,288 shares in the company, valued at $5,404,008.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 207,689 shares of company stock worth $31,517,956. Insiders own 0.74% of the company’s stock.

Several analysts have recently issued reports on DE shares. Deutsche Bank upped their target price on shares of Deere & Company from $129.00 to $149.00 and gave the stock a “hold” rating in a research note on Thursday, November 16th. ValuEngine upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Thursday, November 2nd. Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and increased their price target for the company from $140.00 to $155.00 in a research report on Tuesday, November 21st. Finally, Vetr lowered shares of Deere & Company from a “strong-buy” rating to a “buy” rating and set a $168.58 price target for the company. in a research report on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $168.65.

Shares of Deere & Company (DE) opened at $164.50 on Wednesday. Deere & Company has a fifty-two week low of $106.72 and a fifty-two week high of $175.26. The stock has a market cap of $54,772.68, a PE ratio of 37.64, a PEG ratio of 2.50 and a beta of 0.75. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.98 and a quick ratio of 1.69.

Deere & Company (NYSE:DE) last announced its quarterly 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. Deere & Company had a net margin of 4.57% and a return on equity of 27.18%. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.41 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. research analysts predict that Deere & Company will post 8.27 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, December 29th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Thursday, December 28th. Deere & Company’s payout ratio 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.

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

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