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

NuWave Investment Management LLC acquired a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,568 shares of the industrial products company’s stock, valued at approximately $402,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DE. LeJeune Puetz Investment Counsel LLC acquired a new stake in Deere & Company during the 4th quarter worth about $101,000. Cerebellum GP LLC acquired a new stake in Deere & Company during the 4th quarter worth about $132,000. TCI Wealth Advisors Inc. raised its holdings in Deere & Company by 107.3% during the 4th quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock worth $139,000 after buying an additional 458 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in Deere & Company during the 3rd quarter worth about $144,000. Finally, Moisand Fitzgerald Tamayo LLC acquired a new stake in Deere & Company during the 3rd quarter worth about $158,000. Hedge funds and other institutional investors own 66.84% of the company’s stock.

Several analysts have issued reports on DE shares. Wells Fargo & Co restated a “buy” rating and set a $170.00 price objective on shares of Deere & Company in a report on Thursday, November 23rd. Deutsche Bank upgraded Deere & Company from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $149.00 to $167.00 in a 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 report on Thursday, November 2nd. BMO Capital Markets restated a “buy” rating and set a $150.00 price objective on shares of Deere & Company in a report on Thursday, November 2nd. Finally, Stifel Nicolaus boosted their price objective on Deere & Company to $161.00 and gave the stock a “buy” rating in a report on Monday, November 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. Deere & Company presently has an average rating of “Hold” and an average price target of $154.75.

In related news, insider James M. Field sold 48,427 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $147.98, for a total value of $7,166,227.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cory J. Reed sold 6,416 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $151.54, for a total value of $972,280.64. Following the completion of the sale, the insider now directly owns 11,383 shares of the company’s stock, valued at approximately $1,724,979.82. The disclosure for this sale can be found here. In the last three months, insiders sold 187,603 shares of company stock valued at $28,058,143. 0.74% of the stock is currently owned by company insiders.

Deere & Company (NYSE DE) opened at $159.21 on Tuesday. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.95 and a current ratio of 2.12. Deere & Company has a 12 month low of $106.72 and a 12 month high of $171.96. The firm has a market capitalization of $50,082.22, a PE ratio of 23.33, a price-to-earnings-growth ratio of 2.32 and a beta of 0.75.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.10. The business had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.91 billion. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. equities research analysts forecast that Deere & Company will post 8.15 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, December 29th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.51%. Deere & Company’s payout ratio is 36.14%.

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About Deere & Company

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

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