Alta Capital Management LLC purchased a new position in Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,410 shares of the industrial products company’s stock, valued at approximately $220,000.
A number of other large investors also recently bought and sold shares of DE. Wealthcare Advisory Partners LLC bought a new position in shares of Deere & Company in the third quarter valued at $144,000. Harfst & Associates Inc. lifted its stake in shares of Deere & Company by 44.2% in the second quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after buying an additional 360 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its stake in shares of Deere & Company by 1.1% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock valued at $154,000 after buying an additional 13 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new position in shares of Deere & Company in the second quarter valued at $155,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in shares of Deere & Company in the third quarter valued at $158,000. Institutional investors and hedge funds own 67.37% of the company’s stock.
In related news, insider James M. Field sold 48,427 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $147.98, for a total transaction of $7,166,227.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Max A. Guinn sold 11,235 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $168.68, for a total transaction of $1,895,119.80. Following 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 246,097 shares of company stock worth $35,868,394 over the last three months. 0.85% of the stock is owned by insiders.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The company had revenue of $7.09 billion for the quarter, compared to analyst estimates of $6.91 billion. During the same period last year, the firm earned $0.90 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. analysts predict that Deere & Company will post 8.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, December 29th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Thursday, December 28th. Deere & Company’s payout ratio is currently 36.09%.
A number of research firms have weighed in on DE. Stifel Nicolaus reaffirmed a “buy” rating and issued a $184.00 price objective (up from $161.00) on shares of Deere & Company in a research note on Wednesday. Seaport Global Securities reaffirmed a “hold” rating on shares of Deere & Company in a research note on Thursday. Royal Bank of Canada raised shares of Deere & Company from a “sector perform” rating to an “outperform” rating and dropped their price objective for the company from $190.00 to $155.00 in a research note on Wednesday, January 10th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $200.00 price objective (up from $170.00) on shares of Deere & Company in a research note on Wednesday, January 10th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Deere & Company in a research note on Friday, January 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $149.78.
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Deere & Company 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.
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