Metis Global Partners LLC Sells 1,045 Shares of Deere & Company (NYSE:DE)

Metis Global Partners LLC trimmed its stake in Deere & Company (NYSE:DE) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,107 shares of the industrial products company’s stock after selling 1,045 shares during the quarter. Metis Global Partners LLC’s holdings in Deere & Company were worth $4,441,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Essex Savings Bank grew its position in Deere & Company by 0.5% during the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after buying an additional 26 shares in the last quarter. Valley National Advisers Inc. increased its position in Deere & Company by 1.5% during the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares during the period. Bleakley Financial Group LLC boosted its position in Deere & Company by 0.5% during the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after acquiring an additional 27 shares during the last quarter. Simplicity Solutions LLC lifted its stake in shares of Deere & Company by 0.5% in the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares during the period. Finally, Blue Chip Partners LLC boosted its position in shares of Deere & Company by 2.3% during the 4th quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE traded up $0.88 during mid-day trading on Monday, reaching $401.84. The company’s stock had a trading volume of 971,623 shares, compared to its average volume of 1,466,350. The firm has a market capitalization of $111.86 billion, a PE ratio of 11.68, a P/E/G ratio of 1.51 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The stock has a fifty day moving average of $391.45 and a two-hundred day moving average of $383.87.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same period in the prior year, the firm earned $6.55 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.46%. Deere & Company’s payout ratio is 17.12%.

Analyst Ratings Changes

Several equities analysts recently weighed in on DE shares. Wells Fargo & Company dropped their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Citigroup reduced their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Morgan Stanley started coverage on shares of Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target on the stock. Evercore ISI lifted their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $433.28.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.