CIBC Asset Management Inc Has $5.33 Million Stake in Deere & Company (DE)
CIBC Asset Management Inc reduced its holdings in shares of Deere & Company (NYSE:DE) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,041 shares of the industrial products company’s stock after selling 417 shares during the quarter. CIBC Asset Management Inc’s holdings in Deere & Company were worth $5,328,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Cpwm LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $223,000. SeaCrest Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $1,049,000. Aperio Group LLC boosted its position in shares of Deere & Company by 4.6% during the 4th quarter. Aperio Group LLC now owns 168,381 shares of the industrial products company’s stock worth $26,353,000 after acquiring an additional 7,391 shares in the last quarter. Comerica Bank boosted its position in shares of Deere & Company by 0.8% during the 4th quarter. Comerica Bank now owns 84,160 shares of the industrial products company’s stock worth $14,274,000 after acquiring an additional 645 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Deere & Company by 193.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,885 shares of the industrial products company’s stock worth $921,000 after acquiring an additional 3,882 shares in the last quarter. 67.28% of the stock is owned by institutional investors and hedge funds.
Shares of Deere & Company (NYSE:DE) opened at $161.88 on Wednesday. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95. The firm has a market capitalization of $50,757.83, a PE ratio of 23.65, a PEG ratio of 2.35 and a beta of 0.75. Deere & Company has a fifty-two week low of $106.72 and a fifty-two week high of $171.96.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, December 29th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, December 28th. Deere & Company’s dividend payout ratio is presently 36.14%.
Several research firms have recently issued reports on DE. Vetr raised Deere & Company from a “buy” rating to a “strong-buy” rating and set a $177.25 price objective for the company in a research report on Monday. ValuEngine raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Barclays set a $176.00 target price on Deere & Company and gave the company an “overweight” rating in a report on Wednesday, January 24th. Seaport Global Securities reissued a “hold” rating on shares of Deere & Company in a report on Thursday, January 18th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $184.00 target price (up from $161.00) on shares of Deere & Company in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Deere & Company presently has a consensus rating of “Buy” and an average price target of $155.21.
In other Deere & Company news, VP Mary K.W. Jones sold 34,136 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $124.72, for a total transaction of $4,257,441.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James M. Field sold 48,427 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $147.98, for a total value of $7,166,227.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 187,603 shares of company stock valued at $28,058,143. 0.74% of the stock is owned by company insiders.
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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.
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