Eliot Finkel Investment Counsel LLC lessened its position in shares of Deere & Company (NYSE:DE) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,690 shares of the industrial products company’s stock after selling 1,595 shares during the period. Deere & Company accounts for 4.2% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 5th largest position. Eliot Finkel Investment Counsel LLC’s holdings in Deere & Company were worth $6,568,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its holdings in Deere & Company by 3.2% during the 2nd quarter. FMR LLC now owns 10,120,872 shares of the industrial products company’s stock worth $1,414,898,000 after purchasing an additional 316,150 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Deere & Company by 2.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,750,728 shares of the industrial products company’s stock worth $1,014,837,000 after purchasing an additional 141,869 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Deere & Company by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,909,749 shares of the industrial products company’s stock worth $587,750,000 after purchasing an additional 37,487 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Deere & Company by 11.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,871,865 shares of the industrial products company’s stock worth $401,491,000 after purchasing an additional 303,621 shares in the last quarter. Finally, Findlay Park Partners LLP lifted its holdings in Deere & Company by 86.4% during the 2nd quarter. Findlay Park Partners LLP now owns 1,359,572 shares of the industrial products company’s stock worth $190,068,000 after purchasing an additional 630,000 shares in the last quarter. 65.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE DE opened at $151.59 on Thursday. The stock has a market capitalization of $48.76 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.67 and a current ratio of 1.92. Deere & Company has a twelve month low of $128.32 and a twelve month high of $175.26.

Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, November 21st. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.14). The business had revenue of $8.34 billion during the quarter, compared to the consensus estimate of $8.59 billion. Deere & Company had a return on equity of 29.61% and a net margin of 6.34%. Deere & Company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.57 earnings per share. Research analysts forecast that Deere & Company will post 11.48 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Monday, December 31st will be given a dividend of $0.76 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a dividend yield of 2.01%. Deere & Company’s dividend payout ratio is 29.39%.

A number of analysts recently issued reports on DE shares. JPMorgan Chase & Co. set a $145.00 price objective on Deere & Company and gave the stock a “hold” rating in a report on Monday, August 13th. Stifel Nicolaus dropped their price objective on Deere & Company from $193.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, August 20th. Wells Fargo & Co dropped their price objective on Deere & Company from $190.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 20th. Credit Suisse Group dropped their price objective on Deere & Company from $231.00 to $221.00 and set an “outperform” rating on the stock in a report on Monday, August 20th. Finally, Argus decreased their target price on Deere & Company to $160.00 and set a “buy” rating on the stock in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. Deere & Company has an average rating of “Buy” and an average target price of $177.35.

In other news, CFO Rajesh Kalathur sold 11,133 shares of the 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 approximately $6,398,698.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.74% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “Deere & Company (DE) Stake Lowered by Eliot Finkel Investment Counsel LLC” was originally posted by Watch List News and is the property of of Watch List News. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.watchlistnews.com/deere-company-de-stake-lowered-by-eliot-finkel-investment-counsel-llc/2664824.html.

Deere & Company 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.

Featured Article: What is a Fiduciary?

Institutional Ownership by Quarter 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.