Crux Wealth Advisors Takes $292,000 Position in Deere & Company (NYSE:DE)

Crux Wealth Advisors acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 689 shares of the industrial products company's stock, valued at approximately $292,000.

A number of other large investors also recently added to or reduced their stakes in DE. FMR LLC boosted its stake in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC lifted its stake in Deere & Company by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after buying an additional 97,203 shares during the period. Norges Bank acquired a new position in shares of Deere & Company during the 4th quarter worth about $1,244,094,000. Fisher Asset Management LLC boosted its stake in Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock worth $913,334,000 after acquiring an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company's stock valued at $874,473,000 after purchasing an additional 107,544 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DE. Citigroup dropped their price objective on Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Robert W. Baird reissued a "neutral" rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. UBS Group lowered their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Evercore ISI increased their price objective on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $457.26.

Remove Ads

Deere & Company Stock Performance

NYSE DE traded down $6.36 during trading on Tuesday, reaching $461.31. 1,143,016 shares of the company's stock were exchanged, compared to its average volume of 1,431,668. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The business has a 50 day moving average price of $470.85 and a 200-day moving average price of $443.98. The stock has a market capitalization of $125.21 billion, a P/E ratio of 20.45, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.40%. Deere & Company's dividend payout ratio is currently 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company's stock.

Deere & Company 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 manufacture of a full line of agriculture and turf equipment and related service parts.