Bp Plc bought a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 33,000 shares of the industrial products company’s stock, valued at approximately $4,921,000.
Other institutional investors also recently bought and sold shares of the company. Destination Wealth Management grew its holdings in Deere & Company by 20,500.0% during the fourth quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 205 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Deere & Company by 14,550.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 5,179,386 shares during the period. Legacy Financial Advisors Inc. grew its holdings in Deere & Company by 155.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 145 shares during the period. Lavaca Capital LLC acquired a new stake in Deere & Company during the fourth quarter worth about $41,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Deere & Company during the fourth quarter worth about $47,000. 67.39% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on DE shares. UBS Group set a $177.00 target price on Deere & Company and gave the stock a “buy” rating in a report on Friday, November 23rd. Robert W. Baird set a $165.00 price objective on Deere & Company and gave the company a “buy” rating in a report on Friday, November 23rd. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $176.00 price objective on the stock in a report on Tuesday, January 15th. Argus raised their price objective on Deere & Company from $166.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 9th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $211.00 price objective on shares of Deere & Company in a report on Tuesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $177.06.
In other news, CFO Rajesh Kalathur sold 11,133 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $151.47, for a total value of $1,686,315.51. Following the transaction, the chief financial officer now owns 42,244 shares in the company, valued at $6,398,698.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John C. May II sold 11,661 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $160.21, for a total value of $1,868,208.81. Following the completion of the transaction, the insider now owns 55,743 shares in the company, valued at approximately $8,930,586.03. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.
Shares of DE opened at $162.70 on Thursday. The company has a market capitalization of $52.49 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. Deere & Company has a 12 month low of $128.32 and a 12 month high of $175.26. The company has a current ratio of 1.92, a quick ratio of 1.67 and a debt-to-equity ratio of 2.41.
Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 21st. The industrial products company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.14). The firm had revenue of $8.34 billion during the quarter, compared to analysts’ expectations of $8.59 billion. Deere & Company had a net margin of 6.34% and a return on equity of 29.61%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.57 EPS. Research analysts anticipate that Deere & Company will post 11.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Monday, December 31st were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, December 28th. This is an increase from Deere & Company’s previous quarterly dividend of $0.69. Deere & Company’s dividend payout ratio (DPR) is 32.37%.
Deere & 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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