Mesirow Financial Investment Management Inc. Trims Stock Position in Deere & Company (NYSE:DE)

Mesirow Financial Investment Management Inc. cut its stake in Deere & Company (NYSE:DE) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,719 shares of the industrial products company’s stock after selling 41 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Deere & Company were worth $1,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Wellington Management Group LLP raised its holdings in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. FMR LLC grew its position in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares during the period. Raymond James Financial Inc. bought a new position in shares of Deere & Company in the 4th quarter worth about $296,232,000. Stockbridge Partners LLC lifted its position in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after acquiring an additional 540,874 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in Deere & Company by 52,200.3% during the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock valued at $224,920,000 after acquiring an additional 529,833 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred 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. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Deere & Company Price Performance

Shares of DE opened at $499.73 on Friday. The firm has a fifty day simple moving average of $461.21 and a two-hundred day simple moving average of $429.44. The firm has a market cap of $135.63 billion, a PE ratio of 22.15, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Analyst Ratings Changes

DE has been the subject of a number of analyst reports. Barclays raised their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $457.22.

Deere & Company Profile

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.