Everstar Asset Management LLC Cuts Position in Deere & Company (NYSE:DE)

Everstar Asset Management LLC decreased its stake in Deere & Company (NYSE:DE) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 733 shares of the industrial products company’s stock after selling 84 shares during the period. Everstar Asset Management LLC’s holdings in Deere & Company were worth $311,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Norges Bank purchased a new stake in shares of Deere & Company in the 4th quarter worth about $1,244,094,000. Wellington Management Group LLP increased its holdings in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Deere & Company during the 4th quarter valued at about $296,232,000. Proficio Capital Partners LLC raised its position in Deere & Company by 52,200.3% during the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock worth $224,920,000 after acquiring an additional 529,833 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $148,359,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 3.0 %

Shares of NYSE DE opened at $465.27 on Monday. The stock has a market capitalization of $126.28 billion, a PE ratio of 20.62, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm has a fifty day moving average of $477.28 and a 200-day moving average of $440.12. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Activity at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DE shares. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Oppenheimer increased their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. StockNews.com raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $460.00.

Deere & Company 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.