Deere & Company (NYSE:DE) Stake Raised by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its holdings in Deere & Company (NYSE:DEGet Rating) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,259 shares of the industrial products company’s stock after acquiring an additional 43 shares during the period. Pinnacle Associates Ltd.’s holdings in Deere & Company were worth $1,088,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. MUFG Americas Holdings Corp increased its position in Deere & Company by 3.0% in the 3rd quarter. MUFG Americas Holdings Corp now owns 10,842 shares of the industrial products company’s stock worth $3,620,000 after purchasing an additional 316 shares during the last quarter. Moloney Securities Asset Management LLC increased its position in Deere & Company by 10.3% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 2,709 shares of the industrial products company’s stock worth $905,000 after purchasing an additional 252 shares during the last quarter. Investment House LLC increased its position in Deere & Company by 30.0% in the 3rd quarter. Investment House LLC now owns 1,540 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 355 shares during the last quarter. Geneva Partners LLC increased its position in Deere & Company by 4.5% in the 3rd quarter. Geneva Partners LLC now owns 1,005 shares of the industrial products company’s stock worth $336,000 after purchasing an additional 43 shares during the last quarter. Finally, First Farmers & Merchants Bank Trust acquired a new position in Deere & Company in the 3rd quarter worth about $214,000. 75.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Marc A. Howze sold 10,910 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $442.79, for a total transaction of $4,830,838.90. Following the completion of the transaction, the chairman now owns 17,321 shares in the company, valued at approximately $7,669,565.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Cory J. Reed sold 6,697 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $401.12, for a total transaction of $2,686,300.64. Following the completion of the transaction, the insider now owns 30,946 shares in the company, valued at approximately $12,413,059.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Marc A. Howze sold 10,910 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $442.79, for a total value of $4,830,838.90. Following the transaction, the chairman now owns 17,321 shares of the company’s stock, valued at approximately $7,669,565.59. The disclosure for this sale can be found here. Insiders sold 32,339 shares of company stock worth $13,872,361 in the last 90 days. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on DE shares. BMO Capital Markets increased their price objective on Deere & Company from $375.00 to $450.00 and gave the company a “market perform” rating in a report on Monday, November 28th. The Goldman Sachs Group increased their price objective on Deere & Company from $420.00 to $462.00 and gave the company a “buy” rating in a report on Monday, November 28th. Bank of America increased their price objective on Deere & Company from $444.00 to $478.00 in a report on Friday, November 25th. StockNews.com raised Deere & Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 11th. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $415.00 to $440.00 and gave the company a “neutral” rating in a report on Friday, November 25th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $459.05.

Deere & Company Price Performance

Shares of DE stock opened at $439.63 on Monday. The stock has a 50 day moving average of $428.40 and a two-hundred day moving average of $377.89. The company has a current ratio of 1.98, a quick ratio of 1.72 and a debt-to-equity ratio of 1.66. Deere & Company has a 12 month low of $283.81 and a 12 month high of $448.40. The company has a market capitalization of $130.64 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.32 and a beta of 1.08.

Deere & Company (NYSE:DEGet Rating) last announced its quarterly earnings data on Wednesday, November 23rd. The industrial products company reported $7.44 EPS for the quarter, topping analysts’ consensus estimates of $7.08 by $0.36. Deere & Company had a return on equity of 37.52% and a net margin of 13.56%. The company had revenue of $14.35 billion during the quarter, compared to the consensus estimate of $13.64 billion. As a group, equities analysts expect that Deere & Company will post 27.85 EPS for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Friday, December 30th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, December 29th. This is an increase from Deere & Company’s previous quarterly dividend of $1.13. Deere & Company’s dividend payout ratio (DPR) is 20.57%.

About Deere & Company

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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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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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