Deere & Company (NYSE:DE) is Stockbridge Partners LLC’s 5th Largest Position

Stockbridge Partners LLC reduced its holdings in shares of Deere & Company (NYSE:DE) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 882,306 shares of the industrial products company’s stock after selling 1,931 shares during the period. Deere & Company comprises 7.9% of Stockbridge Partners LLC’s portfolio, making the stock its 5th largest holding. Stockbridge Partners LLC owned 0.32% of Deere & Company worth $373,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. Capital World Investors grew its stake in Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after acquiring an additional 157,224 shares in the last quarter. FMR LLC grew its stake in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares in the last quarter. Geode Capital Management LLC grew its stake in Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after acquiring an additional 97,203 shares in the last quarter. Finally, Norges Bank purchased a new position in Deere & Company during the fourth quarter valued at $1,244,094,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated 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 owns 74,878 shares in the company, 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. 0.29% of the stock is currently owned by company insiders.

Deere & Company Price Performance

Deere & Company stock opened at $531.79 on Friday. The firm has a 50-day moving average price of $468.29 and a 200-day moving average price of $454.67. The firm has a market capitalization of $144.34 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. 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 has a 12-month low of $340.20 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were issued a dividend of $1.62 per share. The ex-dividend date was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.22%. Deere & Company’s payout ratio is 28.72%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Argus set a $510.00 target price on shares of Deere & Company in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research report on Friday. Evercore ISI lifted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Oppenheimer lifted their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $504.38.

About Deere & Company

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.