WMS Partners LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,619 shares of the industrial products company’s stock after purchasing an additional 301 shares during the quarter. WMS Partners LLC’s holdings in Deere & Company were worth $391,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Oregon Public Employees Retirement Fund grew its stake in Deere & Company by 14,550.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock valued at $35,000 after buying an additional 5,179,386 shares in the last quarter. Packer & Co Ltd boosted its position in shares of Deere & Company by 625.9% in the fourth quarter. Packer & Co Ltd now owns 1,239,800 shares of the industrial products company’s stock valued at $25,476,000 after acquiring an additional 1,069,015 shares during the period. Standard Life Aberdeen plc increased its holdings in Deere & Company by 532.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 832,656 shares of the industrial products company’s stock worth $125,190,000 after acquiring an additional 700,946 shares during the period. Morgan Stanley lifted its stake in Deere & Company by 56.1% in the 3rd quarter. Morgan Stanley now owns 1,874,873 shares of the industrial products company’s stock worth $281,850,000 after purchasing an additional 674,058 shares in the last quarter. Finally, Findlay Park Partners LLP lifted its stake in Deere & Company by 34.9% in the 4th quarter. Findlay Park Partners LLP now owns 1,834,572 shares of the industrial products company’s stock worth $273,663,000 after purchasing an additional 475,000 shares in the last quarter. Institutional investors own 68.26% of the company’s stock.
Several equities research analysts recently issued reports on DE shares. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $178.00 price objective for the company in a research note on Thursday, January 24th. Credit Suisse Group reaffirmed a “buy” rating and set a $211.00 price objective on shares of Deere & Company in a report on Tuesday, January 8th. Citigroup dropped their price target on Deere & Company from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, February 19th. Argus lifted their target price on shares of Deere & Company from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 9th. Finally, Barclays reiterated a “buy” rating and issued a $180.00 price objective on shares of Deere & Company in a report on Tuesday, February 19th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Deere & Company presently has an average rating of “Buy” and a consensus target price of $176.73.
In related news, insider John C. May II sold 11,661 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $160.21, for a total transaction of $1,868,208.81. Following the completion of the sale, the insider now owns 55,743 shares of the company’s stock, valued at $8,930,586.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.
Shares of DE stock opened at $165.03 on Monday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.68 and a current ratio of 1.98. The firm has a market capitalization of $52.56 billion, a P/E ratio of 17.58, a PEG ratio of 1.72 and a beta of 0.90. Deere & Company has a twelve month low of $128.32 and a twelve month high of $167.82.
Deere & Company (NYSE:DE) last announced its earnings results on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The business had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the prior year, the business posted $1.31 EPS. Deere & Company’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 11.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, March 29th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, March 28th. Deere & Company’s payout ratio is 32.37%.
Deere & Company Profile
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.