Teamwork Financial Advisors LLC Takes $11.87 Million Position in Deere & Company $DE

Teamwork Financial Advisors LLC purchased a new position in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,505 shares of the industrial products company’s stock, valued at approximately $11,874,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Norges Bank bought a new position in Deere & Company in the 2nd quarter valued at $1,578,243,000. Marshall Wace LLP lifted its position in shares of Deere & Company by 573.9% during the second quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after purchasing an additional 717,808 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Deere & Company by 278.0% during the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after purchasing an additional 358,687 shares during the last quarter. Laurel Wealth Advisors LLC boosted its stake in shares of Deere & Company by 50,691.9% during the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock valued at $168,910,000 after purchasing an additional 331,525 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Deere & Company by 21.7% during the third quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock valued at $829,930,000 after purchasing an additional 323,512 shares during the period. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. Raymond James Financial reaffirmed an “outperform” rating and issued a $765.00 price target on shares of Deere & Company in a research note on Monday, February 23rd. Royal Bank Of Canada boosted their price objective on shares of Deere & Company from $541.00 to $736.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Zacks Research upgraded shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Argus raised their target price on shares of Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a research note on Monday, December 1st. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $644.70.

Deere & Company Trading Down 1.5%

NYSE DE opened at $558.81 on Monday. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The firm has a market cap of $150.94 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. The company has a 50 day moving average price of $572.75 and a 200 day moving average price of $506.31. Deere & Company has a 52 week low of $404.42 and a 52 week high of $674.19.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same period last year, the firm earned $3.19 earnings per share. Deere & Company’s revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.2%. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the sale, the insider directly owned 20,792 shares in the company, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is owned by company insiders.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.