Tower Research Capital LLC TRC Has $12.95 Million Stake in Deere & Company (NYSE:DE)

Tower Research Capital LLC TRC grew its stake in shares of Deere & Company (NYSE:DE) by 67.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 32,395 shares of the industrial products company’s stock after buying an additional 13,106 shares during the period. Tower Research Capital LLC TRC’s holdings in Deere & Company were worth $12,954,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in DE. ZRC Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $28,000. Rakuten Securities Inc. acquired a new position in shares of Deere & Company during the fourth quarter valued at about $28,000. Naples Money Management LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $29,000. Private Wealth Management Group LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $29,000. Finally, Bfsg LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.4 %

NYSE DE traded up $1.62 during trading hours on Wednesday, hitting $370.99. The company’s stock had a trading volume of 1,378,782 shares, compared to its average volume of 1,479,595. The stock has a fifty day moving average of $396.27 and a 200 day moving average of $386.34. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The firm has a market capitalization of $102.23 billion, a P/E ratio of 11.12, a PEG ratio of 1.47 and a beta of 0.98. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the business posted $9.65 earnings per share. Equities research analysts forecast that Deere & Company will post 25.73 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.58%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Morgan Stanley upped their target price on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Evercore ISI upped their target price on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, TD Cowen upped their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $432.92.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.