Russell Clark Investment Management Ltd Acquires 19,400 Shares of Deere & Company (NYSE:DE)


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Russell Clark Investment Management Ltd raised its holdings in Deere & Company (NYSE:DE) by 323.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,400 shares of the industrial products company’s stock after purchasing an additional 19,400 shares during the period. Deere & Company comprises 6.4% of Russell Clark Investment Management Ltd’s holdings, making the stock its 3rd largest position. Russell Clark Investment Management Ltd’s holdings in Deere & Company were worth $6,834,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DE. AMG National Trust Bank lifted its position in Deere & Company by 25.7% during the third quarter. AMG National Trust Bank now owns 1,908 shares of the industrial products company’s stock worth $423,000 after buying an additional 390 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in Deere & Company during the third quarter worth approximately $106,000. Altium Wealth Management LLC lifted its position in Deere & Company by 7.5% during the third quarter. Altium Wealth Management LLC now owns 1,835 shares of the industrial products company’s stock worth $407,000 after buying an additional 128 shares in the last quarter. Ellevest Inc. lifted its position in Deere & Company by 7.3% during the third quarter. Ellevest Inc. now owns 1,134 shares of the industrial products company’s stock worth $251,000 after buying an additional 77 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT purchased a new position in Deere & Company during the third quarter worth approximately $46,054,000. 66.77% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CAO Marc A. Howze sold 14,619 shares of Deere & Company stock in a transaction that occurred on Wednesday, January 6th. The shares were sold at an average price of $289.00, for a total transaction of $4,224,891.00. Following the completion of the sale, the chief accounting officer now directly owns 35,920 shares in the company, valued at approximately $10,380,880. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rajesh Kalathur sold 44,169 shares of Deere & Company stock in a transaction that occurred on Wednesday, December 2nd. The shares were sold at an average price of $257.43, for a total transaction of $11,370,425.67. Following the sale, the insider now owns 75,454 shares of the company’s stock, valued at $19,424,123.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,468 shares of company stock worth $31,836,175. Corporate insiders own 0.70% of the company’s stock.

Shares of Deere & Company stock traded down $5.81 during trading on Tuesday, reaching $331.70. The company’s stock had a trading volume of 59,186 shares, compared to its average volume of 1,794,601. The company has a 50-day moving average price of $302.15 and a two-hundred day moving average price of $251.20. The firm has a market cap of $104.29 billion, a PE ratio of 38.79, a P/E/G ratio of 1.43 and a beta of 0.96. Deere & Company has a fifty-two week low of $106.14 and a fifty-two week high of $338.55. The company has a current ratio of 2.24, a quick ratio of 2.03 and a debt-to-equity ratio of 2.53.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 18th. The industrial products company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $1.70. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. Deere & Company’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 EPS. On average, analysts predict that Deere & Company will post 13.09 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 8th. Shareholders of record on Thursday, December 31st were paid a $0.76 dividend. The ex-dividend date was Wednesday, December 30th. This represents a $3.04 annualized dividend and a yield of 0.92%. Deere & Company’s dividend payout ratio is currently 34.98%.

A number of equities analysts recently commented on the company. Barclays lifted their price objective on Deere & Company from $330.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday. Bank of America increased their price target on Deere & Company from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, November 16th. Morgan Stanley raised their price objective on Deere & Company from $335.00 to $341.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 15th. BMO Capital Markets upped their target price on shares of Deere & Company from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, January 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $201.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, November 19th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, sixteen have issued 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 $309.80.

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.

Further Reading: Market Perform

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

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