Millennium Management LLC reduced its stake in Deere & Company (NYSE:DE) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 940,644 shares of the industrial products company’s stock after selling 141,297 shares during the period. Millennium Management LLC owned 0.29% of Deere & Company worth $147,220,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $101,000. Icon Wealth Partners LLC acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $110,000. Cerebellum GP LLC acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $132,000. TCI Wealth Advisors Inc. boosted its position in shares of Deere & Company by 107.3% during the fourth quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock worth $139,000 after buying an additional 458 shares during the period. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Deere & Company during the third quarter worth approximately $144,000. Institutional investors own 67.37% of the company’s stock.
DE has been the subject of several analyst reports. ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Credit Suisse Group reiterated a “buy” rating and set a $162.00 price objective on shares of Deere & Company in a research report on Thursday, November 23rd. Wells Fargo & Co reiterated a “buy” rating and set a $170.00 price objective on shares of Deere & Company in a research report on Thursday, November 23rd. Deutsche Bank upgraded Deere & Company from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $149.00 to $167.00 in a research report on Thursday, November 23rd. Finally, Stifel Nicolaus boosted their price objective on Deere & Company to $161.00 and gave the stock a “buy” rating in a research report on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $172.07.
Deere & Company (NYSE:DE) opened at $161.32 on Wednesday. The stock has a market capitalization of $52,150.00, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. Deere & Company has a twelve month low of $106.93 and a twelve month high of $175.26. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.98 and a quick ratio of 1.69.
Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.15. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.41 billion. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The firm’s revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. equities research analysts forecast that Deere & Company will post 9.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Thursday, March 29th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio is currently 32.61%.
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About Deere & Company
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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