Sippican Capital Advisors reduced its position in Deere & Company (NYSE:DE) by 3.4% in the first quarter, HoldingsChannel.com reports. The fund owned 4,620 shares of the industrial products company’s stock after selling 165 shares during the quarter. Sippican Capital Advisors’ holdings in Deere & Company were worth $738,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Destination Wealth Management grew its position in shares of Deere & Company by 20,500.0% during the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock worth $31,000 after buying an additional 205 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Deere & Company by 14,550.1% during the 4th 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 in the last quarter. Legacy Financial Advisors Inc. boosted its position in shares of Deere & Company by 155.9% during the 4th 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 in the last quarter. Athena Capital Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $36,000. Finally, Lavaca Capital LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $41,000. Institutional investors own 68.25% of the company’s stock.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a research report on Thursday, February 14th. Citigroup decreased their target price on Deere & Company from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, February 19th. Argus upped their target price on Deere & Company from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 9th. Barclays reissued a “buy” rating and issued a $180.00 target price on shares of Deere & Company in a research report on Tuesday, February 19th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $211.00 target price on shares of Deere & Company in a research report on Tuesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Deere & Company currently has an average rating of “Buy” and an average target price of $176.73.
In other news, insider John C. May II sold 11,661 shares of the stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $160.21, for a total transaction of $1,868,208.81. Following the completion of the transaction, the insider now directly owns 55,743 shares of the company’s stock, valued at approximately $8,930,586.03. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.71% of the stock is currently owned by company insiders.
Deere & Company stock traded down $0.34 during mid-day trading on Wednesday, reaching $164.22. 331,734 shares of the company were exchanged, compared to its average volume of 1,468,486. Deere & Company has a twelve month low of $128.32 and a twelve month high of $167.82. The company has a current ratio of 1.98, a quick ratio of 1.68 and a debt-to-equity ratio of 2.46. The stock has a market capitalization of $52.41 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.71 and a beta of 0.90.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.22). Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The firm’s revenue was up 16.2% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 11.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th will be given a dividend of $0.76 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 1.85%. Deere & Company’s payout ratio is 32.37%.
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Deere & Company 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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