IBM Retirement Fund decreased its holdings in shares of Deere & Company (NYSE:DE) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,735 shares of the industrial products company’s stock after selling 383 shares during the quarter. IBM Retirement Fund’s holdings in Deere & Company were worth $855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Destination Wealth Management increased its holdings in shares of Deere & Company by 20,500.0% in the fourth quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 205 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Deere & Company by 14,550.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 5,179,386 shares during the period. Legacy Financial Advisors Inc. increased its holdings in shares of Deere & Company by 155.9% in the fourth quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 145 shares during the period. Athena Capital Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter worth $36,000. Finally, Lavaca Capital LLC bought a new position in shares of Deere & Company in the fourth quarter worth $41,000. 66.80% of the stock is currently owned by institutional investors and hedge funds.

DE opened at $158.15 on Friday. The firm has a market capitalization of $50.37 billion, a P/E ratio of 16.84, a PEG ratio of 1.66 and a beta of 0.91. The company has a current ratio of 1.98, a quick ratio of 1.68 and a debt-to-equity ratio of 2.46. Deere & Company has a 52 week low of $128.32 and a 52 week high of $167.82.

Deere & Company (NYSE:DE) last released its earnings results on Friday, February 15th. The industrial products company reported $1.54 EPS for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.83 billion. Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. As a group, sell-side analysts anticipate that Deere & Company will post 11.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, March 29th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 1.92%. Deere & Company’s dividend payout ratio is presently 32.37%.

In other Deere & Company news, insider John C. May II sold 11,661 shares of the company’s stock in a transaction dated 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 in the company, valued at $8,930,586.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.71% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on DE. DZ Bank cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $176.00 price target on the stock in a report on Tuesday, January 15th. Robert W. Baird set a $165.00 price target on shares of Deere & Company and gave the stock a “buy” rating in a report on Friday, November 23rd. UBS Group set a $177.00 price target on shares of Deere & Company and gave the stock a “buy” rating in a report on Friday, November 23rd. Finally, Credit Suisse Group reduced their target price on Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 19th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $176.73.

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Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacturing of full line of agriculture and turf equipment and related service parts.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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