Deere & Company (NYSE:DE) is Oakview Capital Management L.P.’s 2nd Largest Position

Oakview Capital Management L.P. lowered its stake in Deere & Company (NYSE:DE) by 13.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 9,234 shares of the industrial products company’s stock after selling 1,491 shares during the period. Deere & Company makes up 17.9% of Oakview Capital Management L.P.’s investment portfolio, making the stock its 2nd largest position. Oakview Capital Management L.P.’s holdings in Deere & Company were worth $3,854,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DE. Oppenheimer Asset Management Inc. increased its stake in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares during the period. Chase Investment Counsel Corp increased its stake in shares of Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares during the period. Balentine LLC acquired a new stake in shares of Deere & Company in the third quarter worth $710,000. Royal Fund Management LLC grew its position in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares during the period. Finally, New Century Financial Group LLC acquired a new stake in Deere & Company during the third quarter valued at $1,052,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $400.13 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company’s 50-day moving average price is $404.63 and its 200-day moving average price is $385.69. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a market cap of $109.47 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.52 and a beta of 0.93.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Analysts Set New Price Targets

Several research firms recently commented on DE. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. BMO Capital Markets began coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Bank of America raised their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Morgan Stanley dropped their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $420.69.

About Deere & Company

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.