Capital Group International Inc. CA increased its position in shares of Deere & Company (NYSE:DE – Get Rating) by 22.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,866 shares of the industrial products company’s stock after purchasing an additional 4,880 shares during the period. Capital Group International Inc. CA’s holdings in Deere & Company were worth $11,162,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Worth Asset Management LLC bought a new stake in Deere & Company in the first quarter valued at $28,000. Nauset Wealth Management. LLC bought a new stake in shares of Deere & Company during the first quarter worth $29,000. Bell Investment Advisors Inc grew its holdings in shares of Deere & Company by 120.0% during the fourth quarter. Bell Investment Advisors Inc now owns 88 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 48 shares during the last quarter. Bank of New Hampshire bought a new stake in shares of Deere & Company during the first quarter worth $30,000. Finally, Mine & Arao Wealth Creation & Management LLC. grew its holdings in shares of Deere & Company by 614.3% during the first quarter. Mine & Arao Wealth Creation & Management LLC. now owns 100 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 86 shares during the last quarter. 75.34% of the stock is currently owned by institutional investors.
Deere & Company Trading Down 0.7 %
NYSE DE opened at $360.90 on Thursday. The firm has a market cap of $108.93 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.29 and a beta of 1.06. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.97 and a quick ratio of 1.68. The stock’s 50-day moving average is $343.61 and its 200-day moving average is $363.56. Deere & Company has a one year low of $283.81 and a one year high of $446.76.
Deere & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 8th. Investors of record on Friday, September 30th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.25%. Deere & Company’s payout ratio is presently 22.59%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on DE. JPMorgan Chase & Co. decreased their target price on Deere & Company from $370.00 to $325.00 and set a “neutral” rating on the stock in a report on Tuesday, July 12th. Argus upped their price target on Deere & Company from $390.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. Evercore ISI upped their price target on Deere & Company from $416.00 to $439.00 in a research note on Monday, August 22nd. The Goldman Sachs Group cut their price target on Deere & Company from $480.00 to $420.00 and set a “buy” rating on the stock in a research note on Monday, May 23rd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $425.00 price target on shares of Deere & Company in a research note on Friday, May 20th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $407.68.
Insider Buying and Selling
In related news, CAO Marc A. Howze sold 4,019 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $373.22, for a total transaction of $1,499,971.18. Following the completion of the transaction, the chief accounting officer now directly owns 17,321 shares in the company, valued at $6,464,543.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.
About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.
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