Deere & Company (NYSE:DE) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in Deere & Company (NYSE:DE) by 87.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 31,465 shares of the industrial products company’s stock after selling 226,577 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Deere & Company were worth $12,582,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley increased its position in shares of Deere & Company by 1.3% in the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after acquiring an additional 65,006 shares in the last quarter. FMR LLC boosted its position in Deere & Company by 6.6% during the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after purchasing an additional 269,571 shares during the period. Northern Trust Corp increased its holdings in Deere & Company by 2.5% in the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after purchasing an additional 73,601 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Deere & Company by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,539,699 shares of the industrial products company’s stock valued at $581,052,000 after purchasing an additional 33,946 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,480,725 shares of the industrial products company’s stock worth $592,098,000 after purchasing an additional 149,980 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3 %

NYSE:DE opened at $400.96 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The company has a market capitalization of $111.61 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The stock has a 50-day simple moving average of $391.45 and a 200 day simple moving average of $383.91.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter last year, the firm earned $6.55 EPS. The business’s revenue was down 8.0% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Stifel Nicolaus dropped their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Evercore ISI upped their target price on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, Truist Financial began coverage on shares of Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.