Deere & Company (DE) Stake Raised by ING Groep NV
ING Groep NV lifted its position in Deere & Company (NYSE:DE) by 14.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,712 shares of the industrial products company’s stock after purchasing an additional 3,140 shares during the period. ING Groep NV’s holdings in Deere & Company were worth $3,868,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $101,000. Cerebellum GP LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $132,000. TCI Wealth Advisors Inc. raised its stake in Deere & Company by 107.3% in the fourth quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 458 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in Deere & Company in the third quarter valued at approximately $144,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new stake in Deere & Company in the third quarter valued at approximately $158,000. 67.28% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company (NYSE DE) opened at $154.93 on Friday. The company has a market cap of $49,671.68, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 2.30 and a beta of 0.75. Deere & Company has a one year low of $106.72 and a one year high of $171.96. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.95 and a current ratio of 2.12.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, December 29th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, December 28th. Deere & Company’s dividend payout ratio (DPR) is presently 36.14%.
In other news, insider Max A. Guinn sold 11,235 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $168.68, for a total value of $1,895,119.80. Following the transaction, the insider now owns 39,406 shares in the company, valued at $6,647,004.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James M. Field sold 48,427 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $147.98, for a total transaction of $7,166,227.46. The disclosure for this sale can be found here. Insiders have sold 187,603 shares of company stock worth $28,058,143 over the last three months. Insiders own 0.74% of the company’s stock.
A number of equities research analysts recently weighed in on DE shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $150.00 target price on shares of Deere & Company in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Thursday, November 2nd. Deutsche Bank raised their target price on shares of Deere & Company from $129.00 to $149.00 and gave the company a “hold” rating in a research note on Thursday, November 16th. Robert W. Baird raised shares of Deere & Company from a “neutral” rating to an “outperform” rating and raised their target price for the company from $140.00 to $155.00 in a research note on Tuesday, November 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $155.00 target price (up from $134.00) on shares of Deere & Company in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $155.21.
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Deere & Company Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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