Castleark Management LLC Raises Stake in Deere & Company (DE)

Castleark Management LLC increased its stake in shares of Deere & Company (NYSE:DE) by 22.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,001 shares of the industrial products company’s stock after buying an additional 33,292 shares during the quarter. Deere & Company accounts for 0.9% of Castleark Management LLC’s investment portfolio, making the stock its 29th largest holding. Castleark Management LLC owned 0.06% of Deere & Company worth $28,485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Capital International Investors grew its holdings in Deere & Company by 35.4% during the third quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock worth $1,106,131,000 after buying an additional 2,300,531 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Deere & Company by 11.4% during the fourth quarter. Lazard Asset Management LLC now owns 2,740,365 shares of the industrial products company’s stock worth $428,894,000 after buying an additional 280,750 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Deere & Company by 128.2% during the third quarter. Janus Henderson Group PLC now owns 2,587,339 shares of the industrial products company’s stock worth $324,942,000 after buying an additional 1,453,754 shares in the last quarter. Legal & General Group Plc grew its holdings in Deere & Company by 2.3% during the third quarter. Legal & General Group Plc now owns 1,660,073 shares of the industrial products company’s stock worth $208,473,000 after buying an additional 36,865 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in Deere & Company by 27.0% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,392,357 shares of the industrial products company’s stock worth $217,918,000 after buying an additional 296,148 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

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Deere & Company (NYSE DE) opened at $159.60 on Friday. The stock has a market capitalization of $51,874.05, a price-to-earnings ratio of 36.52, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.98 and a quick ratio of 1.69. Deere & Company has a 12 month low of $106.93 and a 12 month high of $175.26.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.15. The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.41 billion. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 EPS. equities research analysts expect that Deere & Company will post 9.53 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.50%. Deere & Company’s payout ratio is 54.92%.

DE has been the subject of several recent research reports. Deutsche Bank upped their price target on Deere & Company from $129.00 to $149.00 and gave the stock a “hold” rating in a report on Thursday, November 16th. Robert W. Baird upgraded Deere & Company from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $140.00 to $155.00 in a report on Tuesday, November 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $155.00 price target (up previously from $134.00) on shares of Deere & Company in a report on Wednesday, November 22nd. Wells Fargo & Co reiterated a “buy” rating and set a $170.00 price target on shares of Deere & Company in a report on Thursday, November 23rd. Finally, Jefferies Group reiterated a “hold” rating and set a $150.00 price target on shares of Deere & Company in a report on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $172.07.

In other news, CEO Samuel R. Allen sold 269,353 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $163.83, for a total transaction of $44,128,101.99. Following the completion of the transaction, the chief executive officer now owns 361,166 shares in the company, valued at approximately $59,169,825.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mary K.W. Jones sold 10,220 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $165.06, for a total value of $1,686,913.20. The disclosure for this sale can be found here. Insiders have sold a total of 380,397 shares of company stock valued at $62,811,005 in the last quarter. 0.74% of the stock is owned by corporate insiders.

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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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