PGGM Investments Sells 3,310 Shares of Deere & Company (NYSE:DE)

PGGM Investments lessened its stake in shares of Deere & Company (NYSE:DE) by 24.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,370 shares of the industrial products company’s stock after selling 3,310 shares during the period. PGGM Investments’ holdings in Deere & Company were worth $4,394,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings 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 worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC increased its stake in shares of Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after buying an additional 31,459 shares during the period. FMR LLC increased its stake in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after buying an additional 988,380 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Deere & Company by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after acquiring an additional 160,956 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after acquiring an additional 107,544 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.0 %

Shares of Deere & Company stock opened at $466.64 on Friday. The firm’s 50 day simple moving average is $465.46 and its two-hundred day simple moving average is $432.18. The firm has a market capitalization of $126.65 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating 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%. Analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Friday, December 6th. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, Evercore ISI boosted their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $460.00.

Deere & 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.