Deere & Company (DE) Stake Lessened by Prudential Financial Inc.
Prudential Financial Inc. decreased its holdings in Deere & Company (NYSE:DE) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 360,424 shares of the industrial products company’s stock after selling 2,122 shares during the period. Prudential Financial Inc. owned approximately 0.11% of Deere & Company worth $54,182,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Whitener Capital Management Inc. acquired a new position in Deere & Company during the 3rd quarter worth about $105,000. Kaizen Advisory LLC lifted its holdings in Deere & Company by 158.4% during the 2nd quarter. Kaizen Advisory LLC now owns 796 shares of the industrial products company’s stock worth $111,000 after buying an additional 488 shares during the period. Amussen Hunsaker Associates LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $122,000. Sun Life Financial INC lifted its stake in shares of Deere & Company by 283.8% in the 2nd quarter. Sun Life Financial INC now owns 879 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 650 shares during the period. Finally, Psagot Investment House Ltd. acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $130,000. Institutional investors own 65.26% of the company’s stock.
Shares of Deere & Company stock opened at $147.87 on Monday. Deere & Company has a one year low of $128.32 and a one year high of $175.26. The stock has a market capitalization of $47.57 billion, a P/E ratio of 22.14, a PEG ratio of 2.27 and a beta of 0.97. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.91 and a quick ratio of 1.66.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Friday, September 28th were paid a $0.69 dividend. The ex-dividend date was Thursday, September 27th. This represents a $2.76 annualized dividend and a yield of 1.87%. Deere & Company’s payout ratio is 41.32%.
DE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. set a $145.00 price objective on Deere & Company and gave the company a “hold” rating in a research note on Monday, August 13th. Stifel Nicolaus dropped their price objective on Deere & Company from $193.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, August 20th. Wells Fargo & Co dropped their price objective on Deere & Company from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 20th. Credit Suisse Group dropped their price objective on Deere & Company from $231.00 to $221.00 and set an “outperform” rating on the stock in a research note on Monday, August 20th. Finally, Argus dropped their price objective on Deere & Company to $160.00 and set a “buy” rating on the stock in a research note on Monday, August 20th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Deere & Company presently has an average rating of “Buy” and an average target price of $177.75.
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About Deere & Company
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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