Franklin Resources Inc. reduced its stake in Deere & Company (NYSE:DE) by 69.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,083,813 shares of the industrial products company’s stock after selling 2,476,259 shares during the quarter. Franklin Resources Inc.’s holdings in Deere & Company were worth $169,628,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Capital International Investors raised its holdings in Deere & Company by 35.4% during the third quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock valued at $1,106,131,000 after acquiring an additional 2,300,531 shares during the period. Bank of New York Mellon Corp raised its holdings in Deere & Company by 21.2% during the third quarter. Bank of New York Mellon Corp now owns 3,621,764 shares of the industrial products company’s stock valued at $454,857,000 after acquiring an additional 634,001 shares during the period. Lazard Asset Management LLC raised its holdings in Deere & Company by 11.4% during the fourth quarter. Lazard Asset Management LLC now owns 2,740,365 shares of the industrial products company’s stock valued at $428,894,000 after acquiring an additional 280,750 shares during the period. Janus Henderson Group PLC raised its holdings in Deere & Company by 128.2% during the third quarter. Janus Henderson Group PLC now owns 2,587,339 shares of the industrial products company’s stock valued at $324,942,000 after acquiring an additional 1,453,754 shares during the period. Finally, Legal & General Group Plc raised its holdings in Deere & Company by 2.3% during the third quarter. Legal & General Group Plc now owns 1,660,073 shares of the industrial products company’s stock valued at $208,473,000 after acquiring an additional 36,865 shares during the period. 67.37% of the stock is currently owned by institutional investors.
DE has been the topic of a number of recent analyst reports. Wells Fargo & Co reissued an “outperform” rating and set a $200.00 price target (up from $170.00) on shares of Deere & Company in a report on Wednesday, January 10th. Piper Jaffray Companies reissued a “neutral” rating and set a $160.00 price target (up from $142.00) on shares of Deere & Company in a report on Thursday, February 15th. ValuEngine raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley initiated coverage on Deere & Company in a report on Friday, March 2nd. They set an “overweight” rating and a $195.00 price target on the stock. Finally, BMO Capital Markets raised their price target on Deere & Company to $165.00 and gave the company an “outperform” rating in a report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $172.07.
Deere & Company (DE) opened at $164.03 on Tuesday. The firm has a market capitalization of $54,373.68, a PE ratio of 22.88, a PEG ratio of 2.15 and a beta of 0.76. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 2.85. Deere & Company has a 12-month low of $106.93 and a 12-month high of $175.26.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, February 16th. The industrial products company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.15. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.41 billion. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. sell-side analysts forecast that Deere & Company will post 9.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Thursday, March 29th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.46%. Deere & Company’s payout ratio is 54.92%.
About Deere & Company
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.