Clearwave Capital LLC acquired a new position in shares of Deere & Company (NYSE:DE – Free Report) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 2,665 shares of the industrial products company’s stock, valued at approximately $1,241,000. Deere & Company makes up about 0.9% of Clearwave Capital LLC’s holdings, making the stock its 29th largest position.
Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Norges Bank acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $1,715,633,000. Capital World Investors increased its holdings in Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after purchasing an additional 3,358,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Deere & Company by 1,725.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after purchasing an additional 1,893,972 shares during the period. M&T Bank Corp raised its holdings in Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after purchasing an additional 1,721,239 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Deere & Company by 32.5% during the 4th quarter. Wellington Management Group LLP now owns 2,436,723 shares of the industrial products company’s stock worth $1,134,465,000 after buying an additional 597,087 shares during the period. 68.58% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently issued reports on DE shares. Wolfe Research upped their target price on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Barclays increased their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Finally, Bank of America cut their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.
Deere & Company Trading Up 0.2%
Shares of NYSE DE opened at $590.37 on Friday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The business’s 50 day moving average is $573.71 and its two-hundred day moving average is $552.66. The stock has a market capitalization of $159.36 billion, a P/E ratio of 33.45, a PEG ratio of 2.18 and a beta of 0.92.
Deere & Company (NYSE:DE – Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the previous year, the business posted $6.64 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that Deere & Company will post 18.13 EPS for the current year.
Deere & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.
About Deere & Company
Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.
The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.
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