Shelter Mutual Insurance Co Cuts Position in Deere & Company (NYSE:DE)

Shelter Mutual Insurance Co cut its stake in Deere & Company (NYSE:DEFree Report) by 9.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,315 shares of the industrial products company’s stock after selling 2,115 shares during the period. Deere & Company comprises approximately 2.2% of Shelter Mutual Insurance Co’s portfolio, making the stock its 22nd largest position. Shelter Mutual Insurance Co’s holdings in Deere & Company were worth $8,123,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Group LLC grew its position in Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 45 shares in the last quarter. Briaud Financial Planning Inc purchased a new position in Deere & Company in the third quarter worth $25,000. Rakuten Securities Inc. purchased a new stake in Deere & Company during the fourth quarter valued at about $28,000. Naples Money Management LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $29,000. Finally, ZRC Wealth Management LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $28,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of several analyst reports. Morgan Stanley initiated coverage on shares of Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $433.28.

Check Out Our Latest Stock Report on Deere & Company

Deere & Company Price Performance

DE stock opened at $400.32 on Friday. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company has a market cap of $111.43 billion, a P/E ratio of 11.66, a PEG ratio of 1.50 and a beta of 1.04. The firm has a 50-day moving average of $385.86 and a 200 day moving average of $383.05. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same period in the prior year, the firm earned $6.55 earnings per share. Deere & Company’s revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 27.4 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is currently 17.12%.

Deere & Company Company Profile

(Free Report)

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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

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