Bp Plc acquired a new stake in Deere & Company (NYSE:DE) in the fourth quarter, Holdings Channel reports. The fund acquired 33,000 shares of the industrial products company’s stock, valued at approximately $4,921,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of DE. Destination Wealth Management grew its stake in Deere & Company by 20,500.0% during the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 205 shares in the last quarter. Legacy Financial Advisors Inc. grew its stake in Deere & Company by 155.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 145 shares in the last quarter. Lavaca Capital LLC acquired a new position in Deere & Company during the 4th quarter worth $41,000. Oppenheimer Asset Management Inc. acquired a new position in Deere & Company during the 4th quarter worth $47,000. Finally, CNB Bank grew its stake in Deere & Company by 1,075.0% during the 4th quarter. CNB Bank now owns 329 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 301 shares in the last quarter. 67.39% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Rajesh Kalathur sold 11,133 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $151.47, for a total value of $1,686,315.51. Following the completion of the sale, the chief financial officer now directly owns 42,244 shares of the company’s stock, valued at approximately $6,398,698.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John C. May II sold 11,661 shares of the business’s stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $160.21, for a total value of $1,868,208.81. Following the completion of the sale, the insider now directly owns 55,743 shares of the company’s stock, valued at $8,930,586.03. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.
Shares of NYSE DE opened at $162.70 on Thursday. The stock has a market cap of $52.49 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The company has a quick ratio of 1.67, a current ratio of 1.92 and a debt-to-equity ratio of 2.41. Deere & Company has a 1 year low of $128.32 and a 1 year high of $175.26.
Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 21st. The industrial products company reported $2.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.44 by ($0.14). Deere & Company had a net margin of 6.34% and a return on equity of 29.61%. The firm had revenue of $8.34 billion during the quarter, compared to analysts’ expectations of $8.59 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 11.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Monday, December 31st were issued a $0.76 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, December 28th. Deere & Company’s payout ratio is presently 32.37%.
Several research firms recently commented on DE. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research note on Tuesday, January 15th. Robert W. Baird set a $165.00 price target on Deere & Company and gave the stock a “buy” rating in a report on Friday, November 23rd. UBS Group set a $177.00 price target on Deere & Company and gave the stock a “buy” rating in a report on Friday, November 23rd. OTR Global raised Deere & Company to a “positive” rating in a report on Friday, January 18th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $211.00 price target on shares of Deere & Company in a report on Tuesday, January 8th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $177.06.
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Deere & Company 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.
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