Gotham Asset Management LLC Buys 661 Shares of Deere & Company (NYSE:DE)

Gotham Asset Management LLC boosted its stake in Deere & Company (NYSE:DE) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,526 shares of the industrial products company’s stock after purchasing an additional 661 shares during the period. Gotham Asset Management LLC’s holdings in Deere & Company were worth $3,189,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Robertson Stephens Wealth Management LLC grew its position in Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after buying an additional 22 shares during the last quarter. DLK Investment Management LLC increased its stake in shares of Deere & Company by 0.3% during the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after acquiring an additional 24 shares during the period. Quent Capital LLC raised its holdings in Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after purchasing an additional 24 shares during the period. Finally, Patrick M Sweeney & Associates Inc. boosted its holdings in Deere & Company by 1.2% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 2,115 shares of the industrial products company’s stock valued at $896,000 after purchasing an additional 25 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group cut their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Evercore ISI raised their price objective 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. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their target price 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. Finally, Morgan Stanley upped their price target on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $460.21.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction 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 approximately $37,484,675.58. This represents a 24.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $496.71 on Thursday. The business’s fifty day moving average price is $466.61 and its 200 day moving average price is $452.74. Deere & Company has a twelve month low of $340.20 and a twelve 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. The stock has a market capitalization of $134.81 billion, a P/E ratio of 22.02, a PEG ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) 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%. As a group, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

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.