Lavaca Capital LLC Purchases Shares of 277 Deere & Company (DE)
Lavaca Capital LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 277 shares of the industrial products company’s stock, valued at approximately $41,000.
Several other large investors have also recently made changes to their positions in the company. Legacy Financial Advisors Inc. lifted its stake in Deere & Company by 155.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock valued at $36,000 after buying an additional 145 shares in the last quarter. Moody National Bank Trust Division lifted its stake in Deere & Company by 79.2% in the 4th quarter. Moody National Bank Trust Division now owns 475 shares of the industrial products company’s stock valued at $71,000 after buying an additional 210 shares in the last quarter. Whitener Capital Management Inc. purchased a new stake in Deere & Company in the 3rd quarter valued at approximately $105,000. Patten Group Inc. purchased a new stake in Deere & Company in the 3rd quarter valued at approximately $114,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Deere & Company in the 3rd quarter valued at approximately $141,000. 65.87% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. OTR Global raised Deere & Company to a “positive” rating in a research note on Friday, January 18th. Zacks Investment Research lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Argus increased their price target on Deere & Company from $166.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 9th. Credit Suisse Group reissued a “buy” rating and set a $211.00 price target on shares of Deere & Company in a research note on Tuesday, January 8th. Finally, Bank of America reissued a “buy” rating and set a $173.00 price target (up previously from $163.00) on shares of Deere & Company in a research note on Monday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $176.29.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Wednesday, November 21st. The industrial products company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.14). The firm had revenue of $8.34 billion for the quarter, compared to analyst estimates of $8.59 billion. Deere & Company had a return on equity of 29.61% and a net margin of 6.34%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.57 earnings per share. On average, analysts forecast that Deere & Company will post 11.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Monday, December 31st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from Deere & Company’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, December 28th. Deere & Company’s dividend payout ratio is presently 32.37%.
In other news, CFO Rajesh Kalathur sold 11,133 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $151.47, for a total transaction of $1,686,315.51. Following the completion of the sale, the chief financial officer now directly owns 42,244 shares in the company, valued at approximately $6,398,698.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John C. May II sold 11,661 shares of the company’s stock in a transaction 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 sale, the insider now owns 55,743 shares of the company’s stock, valued at $8,930,586.03. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
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Deere & Company Company Profile
Deere & Company 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 offers agriculture and turf equipment, and related 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; and tillage, seeding, and application equipment.
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