Ladenburg Thalmann Financial Services Inc. cut its holdings in shares of Deere & Company (NYSE:DE) by 37.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,967 shares of the industrial products company’s stock after selling 36,781 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Deere & Company were worth $10,289,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Loomis Sayles & Co. L P raised its position in Deere & Company by 4.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 6,859,025 shares of the industrial products company’s stock worth $1,188,395,000 after acquiring an additional 276,536 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Deere & Company by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,589,260 shares of the industrial products company’s stock worth $621,875,000 after acquiring an additional 171,162 shares during the period. Parnassus Investments CA boosted its position in Deere & Company by 2.0% during the fourth quarter. Parnassus Investments CA now owns 2,419,633 shares of the industrial products company’s stock worth $419,226,000 after purchasing an additional 46,558 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Deere & Company by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,486,671 shares of the industrial products company’s stock valued at $257,581,000 after buying an additional 20,500 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Deere & Company by 11.1% during the 4th quarter. Principal Financial Group Inc. now owns 1,418,168 shares of the industrial products company’s stock valued at $245,712,000 after acquiring an additional 141,174 shares during the period. 67.94% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Pentz Markwart Von sold 7,562 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $178.00, for a total value of $1,346,036.00. Following the sale, the insider now directly owns 67,974 shares of the company’s stock, valued at $12,099,372. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Deere & Company in a report on Monday, February 24th. Deutsche Bank boosted their price objective on Deere & Company from $169.00 to $175.00 and gave the company a “hold” rating in a research note on Monday, February 24th. Argus reissued a “buy” rating and set a $166.65 price objective (down previously from $185.00) on shares of Deere & Company in a report on Wednesday, February 26th. Barclays increased their price objective on Deere & Company from $180.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Finally, DZ Bank downgraded Deere & Company from a “hold” rating to a “sell” rating and set a $148.00 target price for the company. in a research note on Friday, November 29th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $173.03.
NYSE:DE opened at $128.49 on Thursday. The firm has a market capitalization of $39.52 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 2.73 and a beta of 1.05. Deere & Company has a 52-week low of $106.14 and a 52-week high of $181.99. The stock has a fifty day moving average of $154.17 and a 200 day moving average of $166.41. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.84 and a current ratio of 2.12.
Deere & Company (NYSE:DE) last announced its earnings results on Friday, February 21st. The industrial products company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.35. Deere & Company had a return on equity of 26.92% and a net margin of 8.41%. The business had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period in the prior year, the company earned $1.54 EPS. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 9.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Monday, March 30th. Deere & Company’s payout ratio is 30.58%.
About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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