LMR Partners LLP purchased a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,663 shares of the industrial products company’s stock, valued at approximately $397,000.
Other institutional investors have also recently made changes to their positions in the company. Destination Wealth Management lifted its holdings in Deere & Company by 20,500.0% in the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 205 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Deere & Company by 14,550.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 5,179,386 shares during the last quarter. Legacy Financial Advisors Inc. lifted 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 during the last quarter. Athena Capital Advisors LLC acquired a new stake in Deere & Company in the 4th quarter worth approximately $36,000. Finally, Lavaca Capital LLC acquired a new stake in Deere & Company in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 66.80% of the company’s stock.
DE has been the subject of several analyst reports. Zacks Investment Research lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Cfra set a $158.00 target price on Deere & Company and gave the stock a “hold” rating in a report on Wednesday, November 21st. Argus boosted their target price on Deere & Company to $166.00 and gave the stock a “buy” rating in a report on Tuesday, November 27th. Bank of America lowered Deere & Company from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $173.00 to $170.00 in a report on Wednesday, February 13th. Finally, William Blair restated a “hold” rating on shares of Deere & Company in a report on Friday, November 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Deere & Company currently has an average rating of “Buy” and an average target price of $176.73.
Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, February 15th. The industrial products company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.22). Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The business had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the firm earned $1.31 earnings per share. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 11.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th will be issued a dividend of $0.76 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.92%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.
In other news, insider John C. May II sold 11,661 shares of the company’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $160.21, for a total transaction of $1,868,208.81. Following the completion of the transaction, the insider now directly owns 55,743 shares in the company, valued at $8,930,586.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.71% 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 manufacturing of full line of agriculture and turf equipment and related service parts.
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