AIA Group Ltd Cuts Holdings in Deere & Company (NYSE:DE)

AIA Group Ltd trimmed its position in shares of Deere & Company (NYSE:DE) by 4.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 189,043 shares of the industrial products company’s stock after selling 8,516 shares during the quarter. Deere & Company accounts for 1.9% of AIA Group Ltd’s investment portfolio, making the stock its 8th largest holding. AIA Group Ltd’s holdings in Deere & Company were worth $80,098,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Pineridge Advisors LLC boosted its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new position in Deere & Company in the fourth quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in Deere & Company during the 4th quarter worth $44,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 3.0 %

Shares of DE opened at $465.27 on Monday. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The stock has a 50 day moving average price of $477.28 and a 200 day moving average price of $440.12. The stock has a market capitalization of $126.28 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last issued its earnings results 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 return on equity of 27.31% and a net margin of 12.94%. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm 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 dividend yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Analysts Set New Price Targets

A number of research analysts have commented on DE shares. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Robert W. Baird reissued a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Oppenheimer increased their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. Finally, Evercore ISI lifted their target price on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus target price of $460.00.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company 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 completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.