Clarus Wealth Advisors Boosts Holdings in Deere & Company (NYSE:DE)

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Clarus Wealth Advisors boosted its position in shares of Deere & Company (NYSE:DE) by 1,068.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,460 shares of the industrial products company’s stock after acquiring an additional 1,335 shares during the period. Clarus Wealth Advisors’ holdings in Deere & Company were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of DE. Welch & Forbes LLC raised its holdings in shares of Deere & Company by 4.4% in the third quarter. Welch & Forbes LLC now owns 7,305 shares of the industrial products company’s stock worth $1,232,000 after buying an additional 311 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Deere & Company by 10.4% in the third quarter. Pacer Advisors Inc. now owns 33,580 shares of the industrial products company’s stock worth $5,664,000 after acquiring an additional 3,175 shares during the period. First American Trust FSB increased its stake in shares of Deere & Company by 2.8% in the third quarter. First American Trust FSB now owns 28,760 shares of the industrial products company’s stock worth $4,851,000 after acquiring an additional 771 shares during the period. Butensky & Cohen Financial Security Inc. increased its stake in shares of Deere & Company by 7.9% in the third quarter. Butensky & Cohen Financial Security Inc. now owns 13,666 shares of the industrial products company’s stock worth $2,305,000 after acquiring an additional 1,000 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in shares of Deere & Company in the third quarter worth $132,000. 67.53% of the stock is owned by institutional investors.

In other news, COO John C. May II sold 5,228 shares of Deere & Company stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $170.00, for a total value of $888,760.00. Following the sale, the chief operating officer now owns 49,310 shares in the company, valued at $8,382,700. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by company insiders.

DE has been the topic of a number of research reports. Stephens initiated coverage on shares of Deere & Company in a research note on Wednesday, August 14th. They issued an “equal weight” rating and a $160.00 price objective on the stock. Deutsche Bank dropped their price target on shares of Deere & Company from $163.00 to $155.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Bank of America dropped their price target on shares of Deere & Company from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Morgan Stanley raised their price target on shares of Deere & Company from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Robert W. Baird set a $178.00 price target on shares of Deere & Company and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $168.53.

DE stock opened at $170.95 on Friday. The firm has a market cap of $52.40 billion, a PE ratio of 16.53, a P/E/G ratio of 2.50 and a beta of 1.16. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.73 and a current ratio of 1.99. The firm’s fifty day moving average is $161.03 and its 200 day moving average is $158.25. Deere & Company has a one year low of $128.32 and a one year high of $173.26.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.80 by ($0.09). Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The firm had revenue of $8.97 billion for the quarter, compared to analyst estimates of $9.38 billion. During the same quarter in the prior year, the business posted $2.59 EPS. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. Research analysts predict that Deere & Company will post 9.96 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $0.76 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.78%. Deere & Company’s dividend payout ratio (DPR) is 32.37%.

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.

Further Reading: Outperform Rating

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

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