Deere & Company (DE) Stake Lessened by Eaton Vance Management

Eaton Vance Management lowered its stake in shares of Deere & Company (NYSE:DE) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,351 shares of the industrial products company’s stock after selling 874 shares during the quarter. Eaton Vance Management owned about 0.08% of Deere & Company worth $37,792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Destination Wealth Management increased its holdings in Deere & Company by 20,500.0% in the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock worth $31,000 after buying an additional 205 shares during the period. Legacy Financial Advisors Inc. increased its holdings in Deere & Company by 155.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock worth $36,000 after buying an additional 145 shares during the period. Lavaca Capital LLC acquired a new position in Deere & Company in the 4th quarter worth approximately $41,000. Oppenheimer Asset Management Inc. acquired a new position in Deere & Company in the 4th quarter worth approximately $47,000. Finally, CNB Bank increased its holdings in Deere & Company by 1,075.0% in the 4th quarter. CNB Bank now owns 329 shares of the industrial products company’s stock worth $49,000 after buying an additional 301 shares during the period. Hedge funds and other institutional investors own 65.35% of the company’s stock.

In other Deere & Company 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 value of $1,868,208.81. Following the sale, the insider now owns 55,743 shares in the company, valued at approximately $8,930,586.03. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Rajesh Kalathur sold 11,133 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $151.47, for a total value of $1,686,315.51. Following the completion of the sale, the chief financial officer now owns 42,244 shares in the company, valued at approximately $6,398,698.68. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Several equities analysts recently weighed in on DE shares. Bank of America reiterated a “buy” rating and issued a $173.00 price target (up previously from $163.00) on shares of Deere & Company in a report on Monday, December 3rd. Zacks Investment Research downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. OTR Global upgraded shares of Deere & Company to a “positive” rating in a report on Friday, January 18th. Credit Suisse Group reiterated a “buy” rating and issued a $211.00 price target on shares of Deere & Company in a report on Tuesday, January 8th. Finally, Argus increased their price target on shares of Deere & Company to $166.00 and gave the stock a “buy” rating in a report on Tuesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $176.73.

Deere & Company stock opened at $162.85 on Friday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.68 and a current ratio of 1.98. Deere & Company has a 12 month low of $128.32 and a 12 month high of $168.31. The company has a market capitalization of $51.14 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 1.67 and a beta of 0.89.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, February 15th. The industrial products company reported $1.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.22). Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The company had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the company posted $1.31 EPS. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 11.23 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 1st. Shareholders of record on Monday, December 31st were given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Friday, December 28th. This is a positive change from Deere & Company’s previous quarterly dividend of $0.69. Deere & Company’s dividend payout ratio is currently 32.37%.

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

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