Deere & Company (DE) Position Trimmed by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 62.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,415 shares of the industrial products company’s stock after selling 7,303 shares during the period. Tower Research Capital LLC TRC’s holdings in Deere & Company were worth $663,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Whitener Capital Management Inc. bought a new position in Deere & Company in the 3rd quarter valued at $105,000. Amussen Hunsaker Associates LLC bought a new position in Deere & Company in the 2nd quarter valued at $122,000. Sun Life Financial INC boosted its position in Deere & Company by 283.8% in the 2nd quarter. Sun Life Financial INC now owns 879 shares of the industrial products company’s stock valued at $123,000 after buying an additional 650 shares during the last quarter. SRS Capital Advisors Inc. bought a new position in Deere & Company in the 3rd quarter valued at $141,000. Finally, Salem Investment Counselors Inc. boosted its position in Deere & Company by 82.2% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,108 shares of the industrial products company’s stock valued at $155,000 after buying an additional 500 shares during the last quarter. 65.54% of the stock is owned by hedge funds and other institutional investors.
NYSE:DE opened at $154.41 on Friday. Deere & Company has a 12-month low of $128.32 and a 12-month 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 $48.76 billion, a PE ratio of 16.44, a P/E/G ratio of 1.47 and a beta of 1.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Monday, December 31st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, December 28th. This is a positive change from Deere & Company’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 1.97%. Deere & Company’s payout ratio is currently 29.39%.
A number of research analysts have commented on DE shares. Bank of America reiterated a “buy” rating and issued a $173.00 price objective (up from $163.00) on shares of Deere & Company in a research report on Monday. Zacks Investment Research lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Tuesday, November 20th. Deutsche Bank set a $155.00 price objective on Deere & Company and gave the company a “hold” rating in a research report on Wednesday, September 5th. Argus increased their price objective on Deere & Company to $166.00 and gave the company a “buy” rating in a research report on Tuesday, November 27th. Finally, Cfra set a $158.00 price objective on Deere & Company and gave the company a “hold” rating in a research report on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $177.35.
In other Deere & Company news, CFO Rajesh Kalathur sold 11,133 shares of Deere & Company stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $151.47, for a total transaction of $1,686,315.51. Following the transaction, the chief financial officer now directly owns 42,244 shares in the company, valued at $6,398,698.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.74% of the company’s stock.
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Deere & Company Profile
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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