Jacobs & Co. CA Sells 1,730 Shares of Deere & Company (NYSE:DE)

Jacobs & Co. CA reduced its stake in Deere & Company (NYSE:DE) by 6.2% during the first quarter, HoldingsChannel.com reports. The fund owned 25,975 shares of the industrial products company’s stock after selling 1,730 shares during the quarter. Jacobs & Co. CA’s holdings in Deere & Company were worth $9,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. United Bank grew its stake in shares of Deere & Company by 12.7% in the 3rd quarter. United Bank now owns 4,353 shares of the industrial products company’s stock worth $965,000 after buying an additional 489 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Deere & Company by 11.9% in the 3rd quarter. Federated Hermes Inc. now owns 4,085 shares of the industrial products company’s stock worth $905,000 after buying an additional 433 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Deere & Company in the 3rd quarter worth $1,511,000. ExodusPoint Capital Management LP grew its stake in shares of Deere & Company by 27.8% in the 3rd quarter. ExodusPoint Capital Management LP now owns 10,827 shares of the industrial products company’s stock worth $2,400,000 after buying an additional 2,357 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its stake in shares of Deere & Company by 36.8% in the 3rd quarter. State of Tennessee Treasury Department now owns 87,977 shares of the industrial products company’s stock worth $19,498,000 after buying an additional 23,651 shares in the last quarter. Institutional investors own 66.77% of the company’s stock.

Deere & Company stock traded down $4.28 during trading hours on Thursday, hitting $370.51. The company had a trading volume of 16,733 shares, compared to its average volume of 1,859,980. Deere & Company has a 1 year low of $117.85 and a 1 year high of $392.42. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.03 and a current ratio of 2.24. The firm has a market cap of $116.13 billion, a P/E ratio of 43.08, a P/E/G ratio of 1.43 and a beta of 0.96. The company has a 50-day moving average price of $357.42 and a two-hundred day moving average price of $285.84.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 18th. The industrial products company reported $3.87 EPS for the quarter, beating the consensus estimate of $2.17 by $1.70. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the business posted $1.63 EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Deere & Company will post 13.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Stockholders of record on Wednesday, March 31st will be issued a $0.90 dividend. The ex-dividend date is Tuesday, March 30th. This represents a $3.60 annualized dividend and a dividend yield of 0.97%. This is a positive change from Deere & Company’s previous quarterly dividend of $0.76. Deere & Company’s payout ratio is currently 41.43%.

A number of equities analysts have commented on DE shares. Jefferies Financial Group lifted their price objective on shares of Deere & Company from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, January 15th. Robert W. Baird lifted their price target on shares of Deere & Company from $353.00 to $375.00 and gave the stock an “outperform” rating in a research note on Thursday, February 25th. Credit Suisse Group lifted their price target on shares of Deere & Company from $343.00 to $403.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Argus lifted their price target on shares of Deere & Company from $280.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday, March 1st. Finally, Oppenheimer lifted their price target on shares of Deere & Company from $331.00 to $380.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $320.20.

Deere & Company Profile

Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

Featured Article: Inflation

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).

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

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.