TIAA CREF Investment Management LLC raised its position in shares of Deere & Company (NYSE:DE) by 27.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,392,357 shares of the industrial products company’s stock after buying an additional 296,148 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.43% of Deere & Company worth $217,918,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $101,000. Icon Wealth Partners LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $110,000. Cerebellum GP LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $132,000. TCI Wealth Advisors Inc. increased its holdings in shares of Deere & Company by 107.3% during the fourth quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 458 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Deere & Company during the third quarter valued at about $144,000. 67.32% of the stock is owned by institutional investors and hedge funds.
In other news, VP Mary K.W. Jones sold 10,220 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $165.06, for a total transaction of $1,686,913.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Samuel R. Allen sold 269,353 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.83, for a total value of $44,128,101.99. Following the transaction, the chief executive officer now owns 361,166 shares in the company, valued at approximately $59,169,825.78. The disclosure for this sale can be found here. Insiders have sold a total of 380,397 shares of company stock worth $62,811,005 in the last ninety days. Corporate insiders own 0.74% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Jefferies Group restated a “hold” rating and set a $175.00 price objective on shares of Deere & Company in a report on Friday, February 16th. Zacks Investment Research downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, February 19th. UBS restated a “neutral” rating and set a $175.00 price objective (up previously from $150.00) on shares of Deere & Company in a report on Tuesday, February 20th. Citigroup upped their price objective on shares of Deere & Company from $165.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Finally, Barclays set a $176.00 price objective on shares of Deere & Company and gave the company an “overweight” rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $172.07.
Shares of NYSE DE opened at $145.39 on Friday. The company has a market cap of $48,105.16, a PE ratio of 21.76, a PEG ratio of 2.75 and a beta of 0.80. Deere & Company has a 12 month low of $107.04 and a 12 month high of $175.26. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.69 and a current ratio of 1.98.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, February 16th. The industrial products company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.15. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.41 billion. Deere & Company had a net margin of 4.57% and a return on equity of 27.18%. The business’s revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. analysts forecast that Deere & Company will post 9.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.65%. Deere & Company’s payout ratio is 35.93%.
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Deere & Company 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.
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