Hudson Bay Capital Management LP Purchases Shares of 8,800 Deere & Company (NYSE:DE)


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Hudson Bay Capital Management LP acquired a new position in Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,800 shares of the industrial products company’s stock, valued at approximately $2,368,000.

Several other large investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC increased its stake in Deere & Company by 3.4% in the fourth quarter. Flagship Harbor Advisors LLC now owns 962 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 32 shares during the period. Slow Capital Inc. grew its stake in shares of Deere & Company by 0.5% in the 4th quarter. Slow Capital Inc. now owns 6,107 shares of the industrial products company’s stock valued at $1,643,000 after purchasing an additional 32 shares during the period. First Command Bank grew its stake in shares of Deere & Company by 7.8% in the 4th quarter. First Command Bank now owns 471 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 34 shares during the period. CENTRAL TRUST Co raised its holdings in shares of Deere & Company by 0.4% in the 4th quarter. CENTRAL TRUST Co now owns 9,395 shares of the industrial products company’s stock worth $2,527,000 after buying an additional 35 shares in the last quarter. Finally, Delta Asset Management LLC TN lifted its position in shares of Deere & Company by 2.3% during the 4th quarter. Delta Asset Management LLC TN now owns 1,556 shares of the industrial products company’s stock worth $419,000 after buying an additional 35 shares during the period. 66.77% of the stock is currently owned by institutional investors.

Deere & Company stock opened at $374.79 on Thursday. The business’s 50-day simple moving average is $357.42 and its 200 day simple moving average is $285.84. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 2.53. The stock has a market cap of $117.47 billion, a price-to-earnings ratio of 43.08, a P/E/G ratio of 1.43 and a beta of 0.96. Deere & Company has a 12-month low of $117.85 and a 12-month high of $392.42.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 18th. The industrial products company reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $1.70. Deere & Company had a return on equity of 22.17% and a net margin of 7.74%. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 13.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 10th. Stockholders of record on Wednesday, March 31st will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Tuesday, March 30th. This is a boost from Deere & Company’s previous quarterly dividend of $0.76. Deere & Company’s payout ratio is 41.43%.

DE has been the subject of a number of analyst reports. Argus lifted their price objective on Deere & Company from $280.00 to $380.00 and gave the company a “buy” rating in a report on Monday, March 1st. Jefferies Financial Group lifted their price target on shares of Deere & Company from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, January 15th. Credit Suisse Group upped their price objective on shares of Deere & Company from $343.00 to $403.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Morgan Stanley raised their price objective on shares of Deere & Company from $341.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, February 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Deere & Company from $287.00 to $360.00 and gave the stock a “hold” rating in a report on Monday, March 1st. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $320.20.

Deere & Company Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

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

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