NEOS Investment Management LLC Grows Position in Deere & Company (NYSE:DE)

NEOS Investment Management LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 32.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,495 shares of the industrial products company’s stock after purchasing an additional 4,081 shares during the period. NEOS Investment Management LLC’s holdings in Deere & Company were worth $6,989,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC lifted its stake in shares of Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after purchasing an additional 31,459 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Deere & Company by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after buying an additional 160,956 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Deere & Company by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock valued at $874,473,000 after buying an additional 107,544 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Deere & Company by 5.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company’s stock worth $722,733,000 after acquiring an additional 85,401 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent research reports. Citigroup increased their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $460.00.

Deere & Company Stock Down 0.8 %

Shares of NYSE:DE opened at $479.69 on Friday. The company’s fifty day moving average is $477.11 and its two-hundred day moving average is $438.85. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The stock has a market capitalization of $130.19 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.