Ingalls & Snyder LLC Lowers Holdings in Deere & Company (NYSE:DE)

Ingalls & Snyder LLC decreased its holdings in Deere & Company (NYSE:DE) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,743 shares of the industrial products company’s stock after selling 262 shares during the quarter. Ingalls & Snyder LLC’s holdings in Deere & Company were worth $2,208,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. KLCM Advisors Inc. raised its holdings in Deere & Company by 4.7% during the third quarter. KLCM Advisors Inc. now owns 1,319 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 59 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Deere & Company by 69.7% during the third quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 62 shares in the last quarter. Beaton Management Co. Inc. raised its holdings in Deere & Company by 1.1% during the third quarter. Beaton Management Co. Inc. now owns 6,276 shares of the industrial products company’s stock worth $1,059,000 after purchasing an additional 68 shares in the last quarter. Ridgewood Investments LLC raised its holdings in Deere & Company by 2.8% during the third quarter. Ridgewood Investments LLC now owns 3,274 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 89 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its holdings in Deere & Company by 2.8% during the second quarter. Johnson Investment Counsel Inc. now owns 3,533 shares of the industrial products company’s stock worth $585,000 after purchasing an additional 97 shares in the last quarter. 67.53% of the stock is owned by institutional investors and hedge funds.

In related news, insider James M. Field sold 12,637 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $180.00, for a total value of $2,274,660.00. Following the sale, the insider now directly owns 113,858 shares in the company, valued at approximately $20,494,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Samuel R. Allen sold 114,253 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the completion of the sale, the chairman now owns 423,497 shares in the company, valued at $75,509,515.10. The disclosure for this sale can be found here. Insiders have sold a total of 152,228 shares of company stock worth $26,934,906 over the last 90 days. Insiders own 0.71% of the company’s stock.

Shares of NYSE DE opened at $172.92 on Thursday. The firm has a market capitalization of $54.67 billion, a P/E ratio of 17.40, a PEG ratio of 4.11 and a beta of 1.13. Deere & Company has a one year low of $132.68 and a one year high of $180.48. The company’s fifty day moving average is $172.16 and its two-hundred day moving average is $166.72. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.80 and a current ratio of 2.04.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 27th. The industrial products company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.13 by $0.01. The company had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.41 billion. Deere & Company had a net margin of 8.29% and a return on equity of 27.11%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.30 EPS. On average, sell-side analysts forecast that Deere & Company will post 9.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.04 annualized dividend and a dividend yield of 1.76%. Deere & Company’s payout ratio is currently 30.58%.

A number of research firms have weighed in on DE. Citigroup cut their price objective on shares of Deere & Company from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Monday, December 2nd. JPMorgan Chase & Co. reissued a “sell” rating and set a $140.00 price objective on shares of Deere & Company in a report on Monday, November 25th. Bank of America cut shares of Deere & Company from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $200.00 to $150.00 in a report on Monday, December 2nd. Morgan Stanley raised their price objective on shares of Deere & Company from $180.00 to $197.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Finally, BMO Capital Markets raised their price objective on shares of Deere & Company from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $172.79.

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

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