Deere & Company (NYSE:DE) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lessened its holdings in shares of Deere & Company (NYSE:DE) by 16.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 913 shares of the industrial products company’s stock after selling 179 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Deere & Company were worth $387,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC grew its stake in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new position in Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership purchased a new position in Deere & Company during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company during the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC grew its stake in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of a number of research reports. StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Thursday. Citigroup lifted their target price on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer lifted their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $454.65.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $489.98 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The stock has a market cap of $133.45 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 2.20 and a beta of 0.98. The business has a fifty day moving average of $452.07 and a 200-day moving average of $420.91. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. Deere & Company’s payout ratio is 28.72%.

Deere & Company 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 manufacture of a full line of agriculture and turf equipment and related service parts.