Deere & Company (NYSE:DE) Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp reduced its holdings in shares of Deere & Company (NYSE:DE) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,492 shares of the industrial products company’s stock after selling 42 shares during the quarter. Progressive Investment Management Corp’s holdings in Deere & Company were worth $623,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DE. Pathway Financial Advisers LLC lifted its holdings in Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after purchasing an additional 770,451 shares during the last quarter. Swedbank AB acquired a new position in Deere & Company in the first quarter worth $191,628,000. Mawer Investment Management Ltd. acquired a new stake in shares of Deere & Company during the second quarter worth $166,937,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Deere & Company in the 3rd quarter worth about $136,936,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Citigroup lifted their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Morgan Stanley cut their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Price Performance

NYSE DE opened at $404.47 on Wednesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The stock’s 50-day moving average price is $404.63 and its two-hundred day moving average price is $385.69. The company has a market cap of $110.66 billion, a PE ratio of 13.65, a PEG ratio of 1.52 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is 20.06%.

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.