Afam Capital Inc. trimmed its position in shares of Deere & Company (NYSE:DE) by 4.6% during the fourth quarter, HoldingsChannel reports. The firm owned 60,902 shares of the industrial products company’s stock after selling 2,935 shares during the period. Deere & Company makes up approximately 1.0% of Afam Capital Inc.’s portfolio, making the stock its 18th biggest holding. Afam Capital Inc.’s holdings in Deere & Company were worth $9,532,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in DE. Itau Unibanco Holding S.A. lifted its stake in shares of Deere & Company by 510.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 2,534 shares of the industrial products company’s stock worth $396,000 after acquiring an additional 2,119 shares during the period. Taylor Hoffman Wealth Management acquired a new position in shares of Deere & Company in the fourth quarter worth approximately $1,092,000. Virtu Financial LLC lifted its stake in shares of Deere & Company by 162.1% in the fourth quarter. Virtu Financial LLC now owns 6,001 shares of the industrial products company’s stock worth $939,000 after acquiring an additional 3,711 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Deere & Company in the fourth quarter worth approximately $576,000. Finally, Stearns Financial Services Group acquired a new position in shares of Deere & Company in the fourth quarter worth approximately $234,000. 66.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on DE shares. Deutsche Bank raised Deere & Company from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $149.00 to $167.00 in a research note on Thursday, November 23rd. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Thursday, November 2nd. Barclays began coverage on Deere & Company in a report on Tuesday, December 12th. They issued an “overweight” rating and a $167.00 target price for the company. Citigroup lifted their target price on Deere & Company from $165.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Finally, ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $159.70.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, February 16th. The industrial products company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.15. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.41 billion. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The company’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 earnings per share. sell-side analysts expect that Deere & Company will post 8.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, December 29th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, December 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. Deere & Company’s dividend payout ratio is 35.93%.
In related news, VP Mary K.W. Jones sold 34,136 shares of Deere & Company 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James M. Field sold 48,427 shares of Deere & Company 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. In the last 90 days, insiders have sold 187,603 shares of company stock valued at $28,058,143. Corporate insiders own 0.74% of the company’s stock.
Deere & Company Profile
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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