Axa trimmed its stake in shares of Deere & Company (NYSE:DE) by 18.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,830 shares of the industrial products company’s stock after selling 24,201 shares during the quarter. Axa’s holdings in Deere & Company were worth $13,166,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Eqis Capital Management Inc. lifted its holdings in shares of Deere & Company by 5.3% during the second quarter. Eqis Capital Management Inc. now owns 7,368 shares of the industrial products company’s stock worth $911,000 after buying an additional 372 shares in the last quarter. LVM Capital Management Ltd. MI acquired a new stake in shares of Deere & Company during the second quarter worth $245,000. First Heartland Consultants Inc. acquired a new stake in shares of Deere & Company during the second quarter worth $203,000. Reliance Trust Co. of Delaware lifted its holdings in shares of Deere & Company by 1.0% during the second quarter. Reliance Trust Co. of Delaware now owns 2,374 shares of the industrial products company’s stock worth $294,000 after buying an additional 23 shares in the last quarter. Finally, NGAM Advisors L.P. lifted its holdings in shares of Deere & Company by 3.3% during the second quarter. NGAM Advisors L.P. now owns 441,191 shares of the industrial products company’s stock worth $54,527,000 after buying an additional 14,055 shares in the last quarter. 67.63% of the stock is owned by hedge funds and other institutional investors.
Deere & Company (NYSE:DE) opened at $154.48 on Wednesday. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.95 and a current ratio of 2.12. The company has a market capitalization of $49,692.53, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.37 and a beta of 0.77. Deere & Company has a 52 week low of $102.28 and a 52 week high of $154.98.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, December 29th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.55%. The ex-dividend date is Thursday, December 28th. Deere & Company’s payout ratio is 36.14%.
A number of research analysts recently commented on DE shares. Barclays started coverage on Deere & Company in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $167.00 price target for the company. Argus reaffirmed a “buy” rating and issued a $140.00 price target on shares of Deere & Company in a research note on Tuesday, August 22nd. Stifel Nicolaus set a $135.00 price target on Deere & Company and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Credit Suisse Group downgraded Deere & Company from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 22nd. Finally, Piper Jaffray Companies set a $119.00 price target on Deere & Company and gave the company a “hold” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $143.68.
In other Deere & Company news, VP Mary K.W. Jones sold 34,136 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John C. May II sold 22,095 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $127.04, for a total value of $2,806,948.80. Following the transaction, the insider now directly owns 51,429 shares of the company’s stock, valued at approximately $6,533,540.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,642 shares of company stock valued at $31,335,834. Insiders own 0.75% of the company’s stock.
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About Deere & Company
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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