Deere & Company (NYSE:DE) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,777 shares of the industrial products company’s stock after selling 5,454 shares during the period. ARK Investment Management LLC’s holdings in Deere & Company were worth $43,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Briaud Financial Planning Inc acquired a new position in shares of Deere & Company in the 3rd quarter valued at $25,000. Retirement Group LLC lifted its stake in shares of Deere & Company by 264.7% in the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 45 shares during the period. ZRC Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $28,000. Worth Asset Management LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at $28,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Deere & Company in the 3rd quarter valued at $37,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Wells Fargo & Company decreased their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Stifel Nicolaus decreased their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Finally, Evercore ISI increased their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $431.69.

Deere & Company Stock Up 2.7 %

Shares of Deere & Company stock opened at $409.23 on Thursday. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a 50 day moving average of $379.82 and a 200 day moving average of $381.32. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $113.91 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.49 and a beta of 1.03.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.55 EPS. As a group, research analysts forecast that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio is presently 17.12%.

Deere & Company Company Profile

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.