Sheets Smith Wealth Management Takes $470,000 Position in Deere & Company (DE)

Sheets Smith Wealth Management purchased a new position in Deere & Company (NYSE:DE) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,005 shares of the industrial products company’s stock, valued at approximately $470,000.

Other hedge funds have also made changes to their positions in the company. Bristol Advisors LLC raised its holdings in Deere & Company by 250.0% in the fourth quarter. Bristol Advisors LLC now owns 7,000 shares of the industrial products company’s stock worth $1,096,000 after purchasing an additional 5,000 shares in the last quarter. Appleton Partners Inc. MA raised its holdings in Deere & Company by 79.0% in the fourth quarter. Appleton Partners Inc. MA now owns 3,536 shares of the industrial products company’s stock worth $553,000 after purchasing an additional 1,561 shares in the last quarter. Indiana Trust & Investment Management CO bought a new position in Deere & Company in the fourth quarter worth $240,000. Rockland Trust Co. bought a new position in Deere & Company in the fourth quarter worth $208,000. Finally, First National Bank Sioux Falls bought a new position in Deere & Company in the fourth quarter worth $237,000. 67.36% of the stock is owned by institutional investors.

In related news, insider James M. Field sold 48,427 shares of Deere & Company stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $147.98, for a total value of $7,166,227.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mary K.W. Jones sold 34,136 shares of Deere & Company stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $124.72, for a total value of $4,257,441.92. The disclosure for this sale can be found here. Insiders sold a total of 212,767 shares of company stock valued at $30,215,798 over the last quarter. 0.85% of the stock is owned by corporate insiders.

A number of equities analysts have issued reports on DE shares. Deutsche Bank upgraded Deere & Company from a “hold” rating to a “buy” rating and increased their price objective for the stock from $149.00 to $167.00 in a report on Thursday, November 23rd. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Thursday, November 2nd. Barclays started coverage on Deere & Company in a report on Tuesday, December 12th. They issued an “overweight” rating and a $167.00 price objective for the company. Credit Suisse Group reiterated a “buy” rating and issued a $162.00 price objective on shares of Deere & Company in a report on Thursday, November 23rd. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $150.00 price objective on shares of Deere & Company in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $146.88.

Deere & Company (DE) opened at $169.30 on Friday. Deere & Company has a twelve month low of $103.99 and a twelve month high of $170.73. The company has a current ratio of 2.12, a quick ratio of 1.95 and a debt-to-equity ratio of 2.71. The firm has a market capitalization of $54,400.00, a price-to-earnings ratio of 25.46, a PEG ratio of 2.53 and a beta of 0.77.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.10. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm had revenue of $7.09 billion during the quarter, compared to the consensus estimate of $6.91 billion. During the same period last year, the company earned $0.90 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. sell-side analysts anticipate that Deere & Company will post 8.06 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, December 29th will be issued a $0.60 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.40 annualized dividend and a yield of 1.42%. Deere & Company’s payout ratio is 36.09%.

TRADEMARK VIOLATION NOTICE: “Sheets Smith Wealth Management Takes $470,000 Position in Deere & Company (DE)” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://www.com-unik.info/2018/01/13/sheets-smith-wealth-management-takes-470000-position-in-deere-company-de.html.

About Deere & Company

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).

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

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit