Deere & Company (DE) Position Increased by Destination Wealth Management

Destination Wealth Management increased its holdings in shares of Deere & Company (NYSE:DE) by 20,500.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206 shares of the industrial products company’s stock after buying an additional 205 shares during the quarter. Destination Wealth Management’s holdings in Deere & Company were worth $31,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in DE. Legacy Financial Advisors Inc. increased its holdings in Deere & Company by 155.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 145 shares in the last quarter. Lavaca Capital LLC acquired a new position in Deere & Company in the 4th quarter worth about $41,000. Oppenheimer Asset Management Inc. acquired a new position in Deere & Company in the 4th quarter worth about $47,000. First Mercantile Trust Co. acquired a new position in Deere & Company in the 4th quarter worth about $64,000. Finally, Moody National Bank Trust Division increased its holdings in Deere & Company by 79.2% in the 4th quarter. Moody National Bank Trust Division now owns 475 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 67.39% of the company’s stock.

In related news, CFO Rajesh Kalathur sold 11,133 shares of the company’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $151.47, for a total transaction of $1,686,315.51. Following the sale, the chief financial officer now owns 42,244 shares in the company, valued at approximately $6,398,698.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John C. May II sold 11,661 shares of the company’s stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $160.21, for a total value of $1,868,208.81. Following the sale, the insider now owns 55,743 shares in the company, valued at approximately $8,930,586.03. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Shares of Deere & Company stock opened at $162.70 on Thursday. Deere & Company has a one year low of $128.32 and a one year high of $175.26. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.67 and a current ratio of 1.92. The stock has a market cap of $52.49 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89.

Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, November 21st. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.14). Deere & Company had a net margin of 6.34% and a return on equity of 29.61%. The business had revenue of $8.34 billion for the quarter, compared to the consensus estimate of $8.59 billion. During the same quarter in the previous year, the company earned $1.57 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 11.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Monday, December 31st were given a dividend of $0.76 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, December 28th. This represents a $3.04 annualized dividend and a dividend yield of 1.87%. Deere & Company’s dividend payout ratio is presently 32.37%.

Several equities research analysts have recently weighed in on DE shares. Zacks Investment Research cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Cfra set a $158.00 price target on Deere & Company and gave the company a “hold” rating in a research note on Wednesday, November 21st. Argus increased their price target on Deere & Company to $166.00 and gave the company a “buy” rating in a research note on Tuesday, November 27th. Bank of America cut Deere & Company from a “buy” rating to a “neutral” rating and decreased their price target for the company from $173.00 to $170.00 in a research note on Wednesday. Finally, William Blair reissued a “hold” rating on shares of Deere & Company in a research note on Friday, November 23rd. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $177.06.

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Deere & Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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