5,620 Shares in Deere & Company (NYSE:DE) Bought by OFI Invest Asset Management

OFI Invest Asset Management purchased a new position in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,620 shares of the industrial products company’s stock, valued at approximately $2,300,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Everence Capital Management Inc. boosted its holdings in Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after acquiring an additional 7,300 shares in the last quarter. Stockbridge Partners LLC boosted its holdings 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 worth $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Compass Financial Services Inc bought a new stake in Deere & Company in the fourth quarter worth $254,000. Toronto Dominion Bank boosted its holdings in Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after acquiring an additional 1,291 shares in the last quarter. Finally, Chase Investment Counsel Corp boosted its holdings in Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $499.73 on Monday. 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 business has a 50-day simple moving average of $461.21 and a two-hundred day simple moving average of $430.21. The stock has a market cap of $135.63 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping 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 expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade 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 this hyperlink. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group boosted their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued 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.

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.