NuWave Investment Management LLC Invests $402,000 in Deere & Company (DE) Stock

NuWave Investment Management LLC purchased a new position in Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,568 shares of the industrial products company’s stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Pillar Pacific Capital Management LLC grew its position in Deere & Company by 0.7% during the fourth quarter. Pillar Pacific Capital Management LLC now owns 46,477 shares of the industrial products company’s stock valued at $7,274,000 after acquiring an additional 310 shares during the period. Dupont Capital Management Corp grew its position in Deere & Company by 22.8% during the fourth quarter. Dupont Capital Management Corp now owns 1,681 shares of the industrial products company’s stock valued at $263,000 after acquiring an additional 312 shares during the period. Advisor Partners LLC grew its position in Deere & Company by 4.4% during the fourth quarter. Advisor Partners LLC now owns 7,730 shares of the industrial products company’s stock valued at $1,317,000 after acquiring an additional 323 shares during the period. V Wealth Management LLC grew its position in Deere & Company by 6.9% during the fourth quarter. V Wealth Management LLC now owns 5,634 shares of the industrial products company’s stock valued at $950,000 after acquiring an additional 364 shares during the period. Finally, Culbertson A N & Co. Inc. grew its position in Deere & Company by 2.1% during the fourth quarter. Culbertson A N & Co. Inc. now owns 18,919 shares of the industrial products company’s stock valued at $2,961,000 after acquiring an additional 395 shares during the period. 66.24% of the stock is owned by institutional investors.

Shares of Deere & Company (NYSE:DE) traded down $3.00 during mid-day trading on Tuesday, reaching $166.44. The company had a trading volume of 1,456,523 shares, compared to its average volume of 2,422,792. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.98 and a quick ratio of 1.69. The company has a market cap of $54,770.00, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 2.50 and a beta of 0.75. Deere & Company has a 1-year low of $106.72 and a 1-year high of $175.26.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.15. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.41 billion. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. sell-side analysts forecast that Deere & Company will post 8.27 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, December 29th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is presently 35.93%.

DE has been the subject of a number of research reports. Deutsche Bank raised Deere & Company from a “hold” rating to a “buy” rating and boosted their price target for the company from $149.00 to $167.00 in a research report on Thursday, November 23rd. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Thursday, November 2nd. Barclays initiated coverage on Deere & Company in a research note on Tuesday, December 12th. They set an “overweight” rating and a $167.00 price objective on the stock. Citigroup boosted their price target on Deere & Company from $165.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $168.65.

In other news, CFO Rajesh Kalathur sold 4,519 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total value of $672,969.48. Following the completion of the sale, the chief financial officer now owns 36,288 shares in the company, valued at $5,404,008.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Max A. Guinn sold 11,235 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $168.68, for a total value of $1,895,119.80. Following the completion of the sale, the insider now owns 39,406 shares of the company’s stock, valued at approximately $6,647,004.08. The disclosure for this sale can be found here. Insiders have sold a total of 187,603 shares of company stock valued at $28,058,143 in the last quarter. Insiders own 0.74% of the company’s stock.

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Deere & Company Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

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

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