E&G Advisors LP purchased a new position in shares of Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,000 shares of the industrial products company’s stock, valued at approximately $313,000.

Other hedge funds have also modified their holdings of the company. Capital International Investors raised its position in Deere & Company by 35.4% during the 3rd quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock valued at $1,106,131,000 after purchasing an additional 2,300,531 shares in the last quarter. Janus Henderson Group PLC raised its position in Deere & Company by 128.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,587,339 shares of the industrial products company’s stock valued at $324,942,000 after purchasing an additional 1,453,754 shares in the last quarter. Vanguard Group Inc. raised its position in Deere & Company by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock valued at $2,668,774,000 after purchasing an additional 1,153,484 shares in the last quarter. FMR LLC raised its position in Deere & Company by 18.3% during the 2nd quarter. FMR LLC now owns 5,032,313 shares of the industrial products company’s stock valued at $621,943,000 after purchasing an additional 777,519 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Deere & Company by 21.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,621,764 shares of the industrial products company’s stock valued at $454,857,000 after purchasing an additional 634,001 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Mary K.W. Jones sold 34,136 shares of the business’s stock in a transaction on 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 SEC, which can be accessed through the SEC website. Also, CFO Rajesh Kalathur sold 4,519 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total value of $672,969.48. Following the transaction, the chief financial officer now owns 36,288 shares in the company, valued at $5,404,008.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 246,097 shares of company stock worth $35,868,394. 0.85% of the stock is owned by company insiders.

Deere & Company (NYSE:DE) opened at $167.43 on Thursday. Deere & Company has a fifty-two week low of $104.45 and a fifty-two week high of $170.73. The stock has a market capitalization of $54,158.49, a price-to-earnings ratio of 25.22, a PEG ratio of 2.51 and a beta of 0.77. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.10. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The business had revenue of $7.09 billion for the quarter, compared to the consensus estimate of $6.91 billion. During the same period last year, the business posted $0.90 EPS. The business’s revenue was up 25.6% compared to the same quarter last year. sell-side analysts anticipate that Deere & Company will post 8.13 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, December 29th will be issued a $0.60 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio is presently 36.14%.

A number of equities research analysts have weighed in on DE shares. Wells Fargo & Co reaffirmed a “buy” rating and set a $170.00 target price on shares of Deere & Company in a research report on Thursday, November 23rd. Deutsche Bank raised Deere & Company from a “hold” rating to a “buy” rating and lifted their target price for the company from $149.00 to $167.00 in a research report on Thursday, November 23rd. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Thursday, November 2nd. BMO Capital Markets reaffirmed a “buy” rating and set a $150.00 target price on shares of Deere & Company in a research report on Thursday, November 2nd. Finally, Argus reaffirmed a “buy” rating and set a $165.00 target price on shares of Deere & Company in a research report on Monday, November 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $149.78.

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

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