Ridgewood Investments LLC lowered its position in shares of Deere & Company (NYSE:DE) by 42.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,185 shares of the industrial products company’s stock after selling 2,322 shares during the quarter. Ridgewood Investments LLC’s holdings in Deere & Company were worth $509,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Destination Wealth Management raised its stake in shares of Deere & Company by 20,500.0% during the fourth quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 205 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Deere & Company by 14,550.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 5,179,386 shares in the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of Deere & Company by 155.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 145 shares during the last quarter. Athena Capital Advisors LLC acquired a new position in Deere & Company during the 4th quarter worth approximately $36,000. Finally, Lavaca Capital LLC bought a new position in Deere & Company during the fourth quarter valued at $41,000. Institutional investors and hedge funds own 68.26% of the company’s stock.
Deere & Company stock traded up $0.73 during mid-day trading on Monday, reaching $162.19. The company’s stock had a trading volume of 628,889 shares, compared to its average volume of 1,571,793. Deere & Company has a twelve month low of $128.32 and a twelve month high of $167.82. The company has a market cap of $51.42 billion, a PE ratio of 17.27, a P/E/G ratio of 1.68 and a beta of 0.90. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.98 and a quick ratio of 1.68.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 1.87%. Deere & Company’s payout ratio is currently 32.37%.
DE has been the topic of a number of recent analyst reports. Barclays reiterated a “buy” rating and issued a $180.00 price objective on shares of Deere & Company in a research report on Tuesday, February 19th. Citigroup cut their price objective on Deere & Company from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, February 19th. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research report on Thursday, February 14th. Argus boosted their price objective on shares of Deere & Company from $166.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 9th. Finally, Credit Suisse Group reissued a “buy” rating and set a $211.00 price objective on shares of Deere & Company in a research report on Tuesday, January 8th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $176.73.
In other news, insider John C. May II sold 11,661 shares of the company’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $160.21, for a total transaction of $1,868,208.81. Following the completion of the transaction, the insider now directly owns 55,743 shares in the company, valued at $8,930,586.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.71% of the stock is owned by corporate insiders.
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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.
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