Alliancebernstein L.P. Sells 32,098 Shares of Deere & Company (NYSE:DE)

Alliancebernstein L.P. cut its stake in shares of Deere & Company (NYSE:DE) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,126,319 shares of the industrial products company’s stock after selling 32,098 shares during the quarter. Alliancebernstein L.P. owned approximately 0.41% of Deere & Company worth $477,221,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Robertson Stephens Wealth Management LLC boosted its position in shares of Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 22 shares during the period. DLK Investment Management LLC lifted its stake in shares of Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after buying an additional 24 shares in the last quarter. Quent Capital LLC boosted its holdings in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after buying an additional 24 shares during the period. Valeo Financial Advisors LLC increased its stake in Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after buying an additional 24 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its stake in Deere & Company by 4.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after buying an additional 25 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DE. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Evercore ISI upped their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Argus set a $510.00 target price on shares of Deere & Company in a report on Friday, March 7th. Finally, Citigroup raised their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $460.00.

Deere & Company Stock Down 3.0 %

Shares of DE opened at $465.27 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The business has a fifty day moving average of $477.28 and a 200 day moving average of $440.12. The company has a market cap of $126.28 billion, a PE ratio of 20.62, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.