Strategy Asset Managers LLC Takes $223,000 Position in Deere & Company (NYSE:DE)

Strategy Asset Managers LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 595 shares of the industrial products company’s stock, valued at approximately $223,000.

Several other hedge funds have also recently made changes to their positions in the company. M&G Investment Management Ltd. lifted its position in Deere & Company by 76.5% in the fourth quarter. M&G Investment Management Ltd. now owns 1,892 shares of the industrial products company’s stock valued at $509,000 after buying an additional 820 shares during the last quarter. State of Wisconsin Investment Board increased its stake in Deere & Company by 14.9% during the fourth quarter. State of Wisconsin Investment Board now owns 317,079 shares of the industrial products company’s stock worth $85,310,000 after purchasing an additional 41,145 shares during the period. Camden Capital LLC purchased a new stake in Deere & Company during the fourth quarter worth about $246,000. Altium Wealth Management LLC increased its stake in Deere & Company by 15.0% during the fourth quarter. Altium Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $568,000 after purchasing an additional 275 shares during the period. Finally, Galvin Gaustad & Stein LLC purchased a new stake in Deere & Company during the fourth quarter worth about $219,000. 66.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DE stock opened at $341.44 on Friday. Deere & Company has a fifty-two week low of $148.12 and a fifty-two week high of $400.34. The stock has a market capitalization of $106.51 billion, a PE ratio of 23.53, a P/E/G ratio of 0.99 and a beta of 1.04. The firm has a fifty day moving average price of $371.30. The company has a current ratio of 2.29, a quick ratio of 2.05 and a debt-to-equity ratio of 2.21.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 20th. The industrial products company reported $5.68 EPS for the quarter, topping analysts’ consensus estimates of $4.44 by $1.24. The firm had revenue of $11 billion during the quarter, compared to analysts’ expectations of $10.27 billion. Deere & Company had a return on equity of 33.31% and a net margin of 11.51%. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.11 EPS. Analysts forecast that Deere & Company will post 17.89 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 9th. Investors of record on Wednesday, June 30th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Tuesday, June 29th. Deere & Company’s dividend payout ratio is presently 41.43%.

In related news, CEO John C. May II sold 39,336 shares of Deere & Company stock in a transaction dated Wednesday, June 2nd. The stock was sold at an average price of $359.07, for a total transaction of $14,124,377.52. Following the completion of the sale, the chief executive officer now owns 78,949 shares in the company, valued at approximately $28,348,217.43. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tami A. Erwin purchased 275 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The stock was acquired at an average cost of $359.61 per share, for a total transaction of $98,892.75. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

A number of analysts have issued reports on the stock. BMO Capital Markets boosted their price target on shares of Deere & Company from $400.00 to $425.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 25th. Citigroup increased their price target on shares of Deere & Company from $400.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, May 14th. Jefferies Financial Group increased their price objective on Deere & Company from $400.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, May 25th. Oppenheimer increased their price objective on Deere & Company from $331.00 to $380.00 and gave the company an “outperform” rating in a report on Monday, February 22nd. Finally, Evercore ISI increased their price objective on Deere & Company from $389.00 to $455.00 in a report on Wednesday, May 12th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $352.22.

Deere & 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.

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

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