Personal Capital Advisors Corp Reduced Stake in Deere & Company (NYSE:DE)

Personal Capital Advisors Corp Reduced Stake in Deere & Company (NYSE:DE)

Personal Capital Advisors Corp lessened its position in Deere & Company (NYSE:DE) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,399 shares of the industrial products company’s stock after selling 112 shares during the quarter. Personal Capital Advisors Corp’s holdings in Deere & Company were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DE. Packer & Co Ltd raised its position in Deere & Company by 625.9% during the 4th quarter. Packer & Co Ltd now owns 1,239,800 shares of the industrial products company’s stock worth $25,476,000 after buying an additional 1,069,015 shares during the last quarter. Standard Life Aberdeen plc raised its position in Deere & Company by 532.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 832,656 shares of the industrial products company’s stock worth $125,190,000 after buying an additional 700,946 shares during the last quarter. Morgan Stanley raised its position in Deere & Company by 56.1% during the 3rd quarter. Morgan Stanley now owns 1,874,873 shares of the industrial products company’s stock worth $281,850,000 after buying an additional 674,058 shares during the last quarter. Clearbridge Investments LLC raised its position in Deere & Company by 4,365.5% during the 3rd quarter. Clearbridge Investments LLC now owns 425,870 shares of the industrial products company’s stock worth $64,021,000 after buying an additional 416,333 shares during the last quarter. Finally, Columbus Hill Capital Management L.P. purchased a new position in Deere & Company during the 3rd quarter worth $58,935,000. Hedge funds and other institutional investors own 67.39% of the company’s stock.

In other Deere & Company news, CFO Rajesh Kalathur sold 11,133 shares of the stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $151.47, for a total value of $1,686,315.51. Following the completion of the sale, the chief financial officer now owns 42,244 shares of the company’s stock, valued at $6,398,698.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John C. May II sold 11,661 shares of the stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $160.21, for a total transaction of $1,868,208.81. Following the completion of the sale, the insider now directly owns 55,743 shares of the company’s stock, valued at approximately $8,930,586.03. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

NYSE DE traded down $0.81 during mid-day trading on Monday, hitting $161.94. The company’s stock had a trading volume of 1,844,092 shares, compared to its average volume of 2,155,460. Deere & Company has a 52-week low of $128.32 and a 52-week high of $175.26. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.67 and a current ratio of 1.92. The firm has a market capitalization of $52.06 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.59 and a beta of 0.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 21st. The industrial products company reported $2.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.44 by ($0.14). Deere & Company had a net margin of 6.34% and a return on equity of 29.61%. The business had revenue of $8.34 billion during the quarter, compared to analysts’ expectations of $8.59 billion. During the same quarter in the previous year, the business posted $1.57 EPS. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 11.43 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 1st. Shareholders of record on Monday, December 31st were given a $0.76 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, December 28th. This represents a $3.04 annualized dividend and a yield of 1.88%. Deere & Company’s dividend payout ratio (DPR) is 32.37%.

A number of equities analysts have recently weighed in on DE shares. Zacks Investment Research cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. OTR Global raised shares of Deere & Company to a “positive” rating in a research note on Friday, January 18th. Argus increased their price objective on shares of Deere & Company from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 9th. Credit Suisse Group reissued a “buy” rating and issued a $211.00 price objective on shares of Deere & Company in a research note on Tuesday, January 8th. Finally, Bank of America reissued a “buy” rating and issued a $173.00 price objective (up from $163.00) on shares of Deere & Company in a research note on Monday, December 3rd. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Deere & Company has a consensus rating of “Buy” and an average target price of $176.75.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

Featured Story: How liquidity affects the bid-ask spread

Related posts

Leave a Comment