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.
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.
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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.
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