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.
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%.
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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.
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