Howard Hughes Medical Institute Sells 5,000 Shares of Deere & Company (DE)

Howard Hughes Medical Institute cut its position in shares of Deere & Company (NYSE:DE) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the industrial products company’s stock after selling 5,000 shares during the quarter. Deere & Company accounts for 1.2% of Howard Hughes Medical Institute’s portfolio, making the stock its 19th biggest holding. Howard Hughes Medical Institute’s holdings in Deere & Company were worth $4,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Boston Family Office LLC acquired a new stake in Deere & Company during the fourth quarter worth about $235,000. Sarasin & Partners LLP acquired a new stake in Deere & Company during the fourth quarter worth about $3,130,000. Bridgecreek Investment Management LLC acquired a new stake in Deere & Company during the fourth quarter worth about $5,242,000. AE Wealth Management LLC grew its position in Deere & Company by 64.3% during the fourth quarter. AE Wealth Management LLC now owns 2,632 shares of the industrial products company’s stock worth $412,000 after buying an additional 1,030 shares in the last quarter. Finally, Price Capital Management Inc. acquired a new stake in Deere & Company during the fourth quarter worth about $3,302,000. 67.28% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company (DE) opened at $156.20 on Friday. Deere & Company has a one year low of $106.72 and a one year high of $171.96. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.71. The stock has a market cap of $52,186.63, a P/E ratio of 23.14, a PEG ratio of 2.41 and a beta of 0.75.

Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The company had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.91 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. Deere & Company’s quarterly revenue was up 25.6% compared to the same quarter last year. sell-side analysts forecast that Deere & Company will post 8.15 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, December 29th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Thursday, December 28th. Deere & Company’s dividend payout ratio (DPR) is currently 36.14%.

DE has been the subject of a number of analyst reports. BMO Capital Markets restated a “buy” rating and set a $150.00 price target on shares of Deere & Company in a research note on Thursday, November 2nd. Wells Fargo & Co restated an “outperform” rating and set a $200.00 price target (up previously from $170.00) on shares of Deere & Company in a research note on Wednesday, January 10th. ValuEngine upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays upgraded shares of Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 price target for the company in a research note on Wednesday, January 10th. Finally, Robert W. Baird restated a “hold” rating and set a $140.00 price target on shares of Deere & Company in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $155.21.

In related news, insider James M. Field sold 22,095 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $170.06, for a total value of $3,757,475.70. Following the completion of the sale, the insider now owns 95,832 shares of the company’s stock, valued at $16,297,189.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Rajesh Kalathur sold 4,519 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $148.92, for a total transaction of $672,969.48. Following the completion of the sale, the chief financial officer now directly owns 36,288 shares of the company’s stock, valued at approximately $5,404,008.96. The disclosure for this sale can be found here. Insiders sold 187,603 shares of company stock valued at $28,058,143 in the last quarter. 0.74% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2018/02/09/howard-hughes-medical-institute-sells-5000-shares-of-deere-company-de.html.

Deere & Company 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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).

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

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply