Nuveen Asset Management LLC Reduces Stake in Deere & Company (NYSE:DE)

Nuveen Asset Management LLC lowered its stake in Deere & Company (NYSE:DE) by 6.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,186,741 shares of the industrial products company’s stock after selling 85,161 shares during the period. Nuveen Asset Management LLC’s holdings in Deere & Company were worth $502,822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp boosted its position in shares of Deere & Company by 0.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 14,294 shares of the industrial products company’s stock valued at $6,056,000 after buying an additional 38 shares during the period. Obermeyer Wealth Partners raised its stake in shares of Deere & Company by 0.6% during the fourth quarter. Obermeyer Wealth Partners now owns 31,278 shares of the industrial products company’s stock valued at $13,253,000 after acquiring an additional 172 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Deere & Company by 5.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 633,664 shares of the industrial products company’s stock valued at $268,488,000 after acquiring an additional 32,815 shares in the last quarter. Mmbg Investment Advisors CO. raised its stake in shares of Deere & Company by 5.4% during the fourth quarter. Mmbg Investment Advisors CO. now owns 4,425 shares of the industrial products company’s stock valued at $1,875,000 after acquiring an additional 225 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $255,686,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Oppenheimer lifted their price target on shares of Deere & Company from $510.00 to $513.00 and gave the company an “outperform” rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. UBS Group reduced their price objective on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Robert W. Baird reissued a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Finally, Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $460.21.

Deere & Company Stock Performance

Shares of DE stock opened at $496.71 on Thursday. The business’s fifty day simple moving average is $466.61 and its 200-day simple moving average is $452.74. The company has a market cap of $134.81 billion, a PE ratio of 22.02, a PEG ratio of 2.14 and a beta of 1.08. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Company Profile

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.