Teamwork Financial Advisors LLC Makes New $11.87 Million Investment in Deere & Company $DE

Teamwork Financial Advisors LLC acquired a new stake in shares of Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 25,505 shares of the industrial products company’s stock, valued at approximately $11,874,000.

Other hedge funds have also recently modified their holdings of the company. Bouchey Financial Group Ltd increased its holdings in Deere & Company by 4.4% in the 3rd quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 21 shares during the last quarter. Silvant Capital Management LLC boosted its holdings in shares of Deere & Company by 0.5% during the 3rd quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company’s stock valued at $2,034,000 after purchasing an additional 21 shares during the last quarter. Blue Chip Partners LLC grew its position in shares of Deere & Company by 1.4% during the second quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock valued at $801,000 after purchasing an additional 21 shares in the last quarter. Forefront Wealth Partners LLC grew its position in shares of Deere & Company by 4.1% during the third quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 22 shares in the last quarter. Finally, Highline Wealth Partners LLC increased its holdings in shares of Deere & Company by 24.7% in the third quarter. Highline Wealth Partners LLC now owns 116 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.5%

DE opened at $558.81 on Monday. The stock has a 50-day moving average of $572.75 and a 200 day moving average of $506.31. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. Deere & Company has a 12 month low of $404.42 and a 12 month high of $674.19. The firm has a market cap of $150.94 billion, a P/E ratio of 31.50, a P/E/G ratio of 1.96 and a beta of 0.96.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 earnings per share. As a group, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be given a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. Deere & Company’s dividend payout ratio (DPR) is currently 36.53%.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the transaction, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the transaction, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

DE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research report on Friday, December 19th. Argus lifted their price objective on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. BMO Capital Markets upped their price objective on Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Sanford C. Bernstein increased their target price on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Finally, Oppenheimer reissued an “outperform” rating and issued a $715.00 target price on shares of Deere & Company in a report on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average price target of $644.70.

Deere & Company Profile

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.