Pinnacle Bank acquired a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 763 shares of the industrial products company’s stock, valued at approximately $114,000.
A number of other hedge funds have also bought and sold shares of DE. Whittier Trust Co. lifted its holdings in shares of Deere & Company by 0.3% in the fourth quarter. Whittier Trust Co. now owns 24,423 shares of the industrial products company’s stock valued at $3,643,000 after buying an additional 62 shares during the period. Howland Capital Management LLC grew its stake in Deere & Company by 0.4% in the fourth quarter. Howland Capital Management LLC now owns 15,712 shares of the industrial products company’s stock valued at $2,344,000 after purchasing an additional 66 shares in the last quarter. Sowell Financial Services LLC grew its stake in Deere & Company by 2.2% in the fourth quarter. Sowell Financial Services LLC now owns 3,060 shares of the industrial products company’s stock valued at $457,000 after purchasing an additional 66 shares in the last quarter. TRUE Private Wealth Advisors grew its stake in Deere & Company by 3.1% in the fourth quarter. TRUE Private Wealth Advisors now owns 2,505 shares of the industrial products company’s stock valued at $375,000 after purchasing an additional 76 shares in the last quarter. Finally, Barber Financial Group Inc. grew its stake in Deere & Company by 3.9% in the fourth quarter. Barber Financial Group Inc. now owns 2,198 shares of the industrial products company’s stock valued at $328,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 68.26% of the company’s stock.
In other Deere & Company news, insider John C. May II sold 11,661 shares of the company’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $160.21, for a total value of $1,868,208.81. Following the completion of the transaction, the insider now owns 55,743 shares of the company’s stock, valued at approximately $8,930,586.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.71% of the company’s stock.
Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, February 15th. The industrial products company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.22). The firm had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.83 billion. Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The company’s revenue was up 16.2% on a year-over-year basis. During the same period last year, the company earned $1.31 EPS. As a group, analysts expect that Deere & Company will post 11.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th will be issued a $0.76 dividend. The ex-dividend date is Thursday, March 28th. This represents a $3.04 annualized dividend and a yield of 1.88%. Deere & Company’s dividend payout ratio (DPR) is 32.37%.
Several analysts have recently issued reports on the company. Bank of America downgraded Deere & Company from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $173.00 to $170.00 in a research note on Wednesday, February 13th. OTR Global upgraded Deere & Company to a “positive” rating in a research note on Friday, January 18th. Zacks Investment Research downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Robert W. Baird set a $165.00 price target on Deere & Company and gave the stock a “buy” rating in a research note on Monday, December 3rd. Finally, Credit Suisse Group decreased their price target on Deere & Company from $211.00 to $209.00 and set an “outperform” rating for the company in a research note on Tuesday, February 19th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Deere & Company has a consensus rating of “Buy” and an average price target of $176.73.
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Deere & Company Profile
Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacturing of full line of agriculture and turf equipment and related service parts.
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