Fmr LLC Acquires 240,210 Shares of Deere & Company (NYSE:DE)

Fmr LLC raised its stake in shares of Deere & Company (NYSE:DEGet Rating) by 4.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,108,362 shares of the industrial products company’s stock after purchasing an additional 240,210 shares during the period. Fmr LLC owned approximately 1.67% of Deere & Company worth $1,529,801,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC increased its holdings in shares of Deere & Company by 151.5% during the second quarter. Northwest Investment Counselors LLC now owns 83 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Deere & Company in the 2nd quarter worth approximately $27,000. Worth Asset Management LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $28,000. Heritage Financial Services LLC purchased a new position in shares of Deere & Company in the second quarter worth about $29,000. Finally, Close Asset Management Ltd raised its stake in shares of Deere & Company by 40.0% in the 2nd quarter. Close Asset Management Ltd now owns 105 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 75.34% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE DE traded up $20.96 during mid-day trading on Thursday, hitting $437.52. The company had a trading volume of 5,054,530 shares, compared to its average volume of 1,678,611. Deere & Company has a 12 month low of $283.81 and a 12 month high of $448.40. The stock has a market cap of $132.05 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.24 and a beta of 1.09. The firm’s 50 day simple moving average is $375.09 and its two-hundred day simple moving average is $353.29. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.97 and a quick ratio of 1.68.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 8th. Investors of record on Friday, September 30th were given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Thursday, September 29th. Deere & Company’s dividend payout ratio is currently 22.59%.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 6,697 shares of Deere & Company stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $401.12, for a total transaction of $2,686,300.64. Following the transaction, the insider now owns 30,946 shares in the company, valued at $12,413,059.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Cory J. Reed sold 984 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $405.11, for a total value of $398,628.24. Following the transaction, the insider now owns 30,946 shares in the company, valued at $12,536,534.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cory J. Reed sold 6,697 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $401.12, for a total value of $2,686,300.64. Following the completion of the transaction, the insider now directly owns 30,946 shares in the company, valued at $12,413,059.52. The disclosure for this sale can be found here. Insiders sold a total of 14,019 shares of company stock worth $5,516,276 in the last three months. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DE shares. Morgan Stanley lifted their price target on shares of Deere & Company from $416.00 to $424.00 and gave the company an “overweight” rating in a research report on Sunday, August 21st. Wells Fargo & Company boosted their target price on shares of Deere & Company from $410.00 to $423.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Oppenheimer boosted their price objective on Deere & Company from $415.00 to $492.00 in a research note on Wednesday. Robert W. Baird lifted their target price on Deere & Company from $406.00 to $470.00 in a research report on Wednesday. Finally, Citigroup upped their price target on shares of Deere & Company from $340.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $412.58.

Deere & Company Profile

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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.

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

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