American International Group Inc. Trims Stock Holdings in Deere & Company (NYSE:DE)

American International Group Inc. reduced its stake in Deere & Company (NYSE:DEGet Rating) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,451 shares of the industrial products company’s stock after selling 1,284 shares during the period. American International Group Inc.’s holdings in Deere & Company were worth $33,758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in Deere & Company by 60.3% during the third quarter. Janus Henderson Group PLC now owns 3,212,882 shares of the industrial products company’s stock worth $1,076,547,000 after purchasing an additional 1,208,338 shares during the period. Renaissance Technologies LLC grew its position in shares of Deere & Company by 211.6% during the fourth quarter. Renaissance Technologies LLC now owns 501,700 shares of the industrial products company’s stock worth $172,028,000 after buying an additional 340,700 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of Deere & Company by 29,687.2% during the third quarter. EP Wealth Advisors LLC now owns 258,553 shares of the industrial products company’s stock worth $254,000 after buying an additional 257,685 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of Deere & Company during the third quarter worth about $72,809,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Deere & Company during the third quarter worth about $265,000. Hedge funds and other institutional investors own 67.35% of the company’s stock.

A number of equities analysts recently issued reports on DE shares. Credit Suisse Group lowered their price target on Deere & Company from $477.00 to $472.00 and set an “outperform” rating for the company in a report on Monday. Wells Fargo & Company lowered their price target on Deere & Company from $455.00 to $410.00 and set an “overweight” rating for the company in a report on Monday. BMO Capital Markets reaffirmed a “hold” rating and issued a $425.00 price target on shares of Deere & Company in a report on Friday. StockNews.com started coverage on Deere & Company in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $412.00 price target for the company. in a report on Monday, February 14th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $434.19.

Shares of DE traded up $13.79 during trading hours on Monday, reaching $327.10. 29,610 shares of the company traded hands, compared to its average volume of 2,083,995. The company has a quick ratio of 1.94, a current ratio of 2.25 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $100.35 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02. Deere & Company has a fifty-two week low of $307.64 and a fifty-two week high of $446.76. The stock has a fifty day simple moving average of $401.49 and a 200 day simple moving average of $377.52.

Deere & Company (NYSE:DEGet Rating) last issued its quarterly earnings results on Friday, May 20th. The industrial products company reported $6.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.71 by $0.10. Deere & Company had a return on equity of 33.65% and a net margin of 12.69%. The firm had revenue of $12.03 billion for the quarter, compared to analyst estimates of $13.16 billion. During the same period last year, the company earned $5.68 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts predict that Deere & Company will post 22.69 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Thursday, March 31st were issued a $1.05 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.28%. Deere & Company’s dividend payout ratio (DPR) is 23.28%.

In other news, insider Pentz Markwart Von sold 18,364 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $393.00, for a total value of $7,217,052.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rajesh Kalathur sold 32,391 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $400.00, for a total value of $12,956,400.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

About Deere & Company (Get Rating)

Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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