Twin Tree Management LP Acquires New Position in Deere & Company (NYSE:DE)

Twin Tree Management LP acquired a new stake in shares of Deere & Company (NYSE:DE) during the 4th quarter, Holdings Channel reports. The fund acquired 174 shares of the industrial products company’s stock, valued at approximately $74,000.

Several other institutional investors also recently bought and sold shares of DE. Wellington Management Group LLP grew its position in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. FMR LLC lifted its stake in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the period. Raymond James Financial Inc. bought a new position in Deere & Company during the 4th quarter valued at about $296,232,000. Stockbridge Partners LLC lifted its stake in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after acquiring an additional 540,874 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in Deere & Company by 52,200.3% during the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock valued at $224,920,000 after acquiring an additional 529,833 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE opened at $479.73 on Thursday. The firm has a market cap of $130.20 billion, a P/E ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The company has a 50 day simple moving average of $470.64 and a two-hundred day simple moving average of $435.32. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Robert W. Baird restated a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. StockNews.com cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Evercore ISI upped their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $460.00.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.