Point72 Hong Kong Ltd bought a new position in shares of Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,682 shares of the industrial products company’s stock, valued at approximately $291,000.

Several other hedge funds also recently made changes to their positions in DE. Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Deere & Company during the 3rd quarter valued at approximately $7,927,000. Voya Financial Advisors Inc. lifted its holdings in Deere & Company by 11.4% in the third quarter. Voya Financial Advisors Inc. now owns 3,119 shares of the industrial products company’s stock worth $519,000 after acquiring an additional 320 shares during the last quarter. Redpoint Investment Management Pty Ltd lifted its holdings in Deere & Company by 2.0% in the third quarter. Redpoint Investment Management Pty Ltd now owns 15,717 shares of the industrial products company’s stock worth $2,651,000 after acquiring an additional 308 shares during the last quarter. Neo Ivy Capital Management bought a new position in Deere & Company in the third quarter worth about $1,140,000. Finally, J.P. Marvel Investment Advisors LLC bought a new position in Deere & Company in the third quarter worth about $4,987,000. Institutional investors own 67.94% of the company’s stock.

Deere & Company stock traded up $2.49 during midday trading on Wednesday, hitting $128.49. The company’s stock had a trading volume of 3,962,182 shares, compared to its average volume of 2,082,813. Deere & Company has a 1-year low of $106.14 and a 1-year high of $181.99. The company has a debt-to-equity ratio of 2.55, a current ratio of 2.12 and a quick ratio of 1.84. The company has a 50-day moving average price of $154.17 and a two-hundred day moving average price of $166.41. The company has a market cap of $34.86 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.35 and a beta of 1.05.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, February 21st. The industrial products company reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.35. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.17 billion. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. Deere & Company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 EPS. Sell-side analysts forecast that Deere & Company will post 9.47 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.37%. Deere & Company’s dividend payout ratio (DPR) is presently 30.58%.

A number of brokerages have issued reports on DE. Morgan Stanley cut their target price on shares of Deere & Company from $205.00 to $171.00 and set an “overweight” rating on the stock in a report on Tuesday. BMO Capital Markets raised their target price on shares of Deere & Company to and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. UBS Group cut their target price on shares of Deere & Company from $180.00 to $169.00 and set a “neutral” rating for the company in a research note on Friday, November 29th. Deutsche Bank raised their target price on shares of Deere & Company from $169.00 to $175.00 and gave the stock a “hold” rating in a research note on Monday, February 24th. Finally, Argus reiterated a “buy” rating and issued a $166.65 price objective (down previously from $185.00) on shares of Deere & Company in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Deere & Company has a consensus rating of “Hold” and a consensus price target of $173.03.

In other news, insider Pentz Markwart Von sold 7,562 shares of Deere & Company stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $178.00, for a total value of $1,346,036.00. Following the sale, the insider now directly owns 67,974 shares of the company’s stock, valued at $12,099,372. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Deere & Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

Further Reading: Net Margin – Understanding the Different Kinds of Profit

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

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