Patten & Patten Inc. TN Purchases 81 Shares of Deere & Company (NYSE:DE)

Patten & Patten Inc. TN boosted its position in Deere & Company (NYSE:DE) by 3.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,206 shares of the industrial products company’s stock after purchasing an additional 81 shares during the period. Patten & Patten Inc. TN’s holdings in Deere & Company were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares during the period. Geode Capital Management LLC grew its position in Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after buying an additional 31,459 shares in the last quarter. FMR LLC grew its holdings in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Deere & Company by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock worth $913,334,000 after buying an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock valued at $874,473,000 after acquiring an additional 107,544 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 2.5 %

NYSE:DE opened at $478.67 on Monday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market capitalization of $129.92 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The business has a fifty day moving average price of $466.59 and a 200-day moving average price of $433.63.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Analyst Ratings Changes

Several brokerages have issued reports on DE. Argus set a $510.00 price target on Deere & Company in a research note on Friday, March 7th. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Oppenheimer boosted their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Citigroup upped their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $460.00.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

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.