Meeder Asset Management Inc. Boosts Stake in Deere & Company (NYSE:DE)

Meeder Asset Management Inc. increased its stake in shares of Deere & Company (NYSE:DE) by 211.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131 shares of the industrial products company’s stock after buying an additional 89 shares during the quarter. Meeder Asset Management Inc.’s holdings in Deere & Company were worth $56,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after acquiring an additional 31,459 shares during the last quarter. Norges Bank acquired a new stake in shares of Deere & Company in the fourth quarter worth $1,244,094,000. Fisher Asset Management LLC raised its holdings in shares of Deere & Company by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock worth $913,334,000 after purchasing an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Deere & Company by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock valued at $874,473,000 after purchasing an additional 107,544 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred 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 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 legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

Deere & Company Stock Performance

DE opened at $478.42 on Wednesday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The firm has a market capitalization of $129.85 billion, a PE ratio of 21.21, a PEG ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The firm’s 50-day moving average price is $477.87 and its 200 day moving average price is $441.29.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s payout ratio is 28.72%.

Analyst Ratings Changes

DE has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. StockNews.com raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. Citigroup increased their target price on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Robert W. Baird restated a “neutral” rating and set a $501.00 target price on shares of Deere & Company 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 target for the company. in a report on Friday, December 6th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $460.00.

Deere & 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.