Keybank National Association OH Cuts Stock Position in Deere & Company (NYSE:DE)

Keybank National Association OH cut its stake in shares of Deere & Company (NYSE:DE) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,023 shares of the industrial products company’s stock after selling 544 shares during the quarter. Keybank National Association OH’s holdings in Deere & Company were worth $23,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DE. Wellington Management Group LLP boosted its holdings in shares of Deere & Company by 32.0% in the third 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. FMR LLC lifted its position in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the period. Stockbridge Partners LLC lifted its position in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares during the period. Proficio Capital Partners LLC boosted its holdings in Deere & Company by 52,200.3% in the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock valued at $224,920,000 after purchasing an additional 529,833 shares in the last quarter. Finally, Strategic Wealth Investment Group LLC acquired a new position in Deere & Company during the 4th quarter worth approximately $148,359,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $458.43 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The business has a fifty day moving average of $458.13 and a 200-day moving average of $427.89. The stock has a market cap of $124.85 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Wall Street Analyst Weigh In

Several analysts have recently commented on DE shares. Citigroup raised their price target on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Robert W. Baird reissued a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday. JPMorgan Chase & Co. upped their price target 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. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $457.22.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

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.