Kapitalo Investimentos Ltda Sells 170 Shares of Deere & Company (NYSE:DE)

Kapitalo Investimentos Ltda trimmed its position in Deere & Company (NYSE:DE) by 71.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 69 shares of the industrial products company’s stock after selling 170 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Deere & Company were worth $28,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley raised its holdings in Deere & Company by 1.3% during the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after purchasing an additional 65,006 shares during the last quarter. Parnassus Investments LLC raised its stake in shares of Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after buying an additional 705,771 shares during the last quarter. Norges Bank bought a new position in Deere & Company in the fourth quarter valued at approximately $1,248,036,000. Dimensional Fund Advisors LP grew its holdings in Deere & Company by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after acquiring an additional 160,369 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Deere & Company by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock valued at $628,105,000 after acquiring an additional 31,074 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE opened at $381.50 on Friday. The company has a fifty day moving average price of $387.98 and a 200 day moving average price of $386.55. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00. The firm has a market cap of $105.13 billion, a PE ratio of 11.48, a PEG ratio of 1.54 and a beta of 0.98. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same period in the prior year, the firm earned $9.65 earnings per share. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. Research analysts predict that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.54%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. DA Davidson reduced their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. JPMorgan Chase & Co. decreased their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Morgan Stanley increased their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Oppenheimer restated an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. Finally, TD Cowen upped their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $433.36.

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.