Pictet Asset Management Holding SA Acquires 18,343 Shares of Deere & Company (NYSE:DE)

Pictet Asset Management Holding SA lifted its holdings in shares of Deere & Company (NYSE:DE) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 206,270 shares of the industrial products company’s stock after acquiring an additional 18,343 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Deere & Company were worth $87,397,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in Deere & Company by 32.0% during the third 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 raised its position in shares of Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after purchasing an additional 31,459 shares during the period. Norges Bank acquired a new stake in shares of Deere & Company during the 4th quarter worth about $1,244,094,000. Fisher Asset Management LLC boosted its holdings in shares of Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock worth $913,334,000 after buying an additional 160,956 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Deere & Company by 5.5% in 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 last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Deere & Company stock opened at $465.27 on Friday. 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 52 week low of $340.20 and a 52 week high of $515.05. The stock has a market capitalization of $126.28 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The stock has a fifty day moving average of $477.28 and a 200-day moving average of $439.76.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is 28.72%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DE. Robert W. Baird restated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Citigroup lifted their price target on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Argus set a $510.00 price objective on Deere & Company in a report on Friday, March 7th. Evercore ISI lifted their target price on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $460.00.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Deere & 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.