Team Hewins LLC Takes $745,000 Position in Deere & Company (NYSE:DE)

Team Hewins LLC acquired a new stake in shares of Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,856 shares of the industrial products company’s stock, valued at approximately $745,000.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DE. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Oppenheimer reissued an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. TD Cowen lifted their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Morgan Stanley lifted their price objective on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Finally, Stifel Nicolaus lifted their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $432.92.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $4.13 on Friday, hitting $375.11. 1,180,965 shares of the company were exchanged, compared to its average volume of 1,471,518. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The stock’s 50 day moving average price is $399.93 and its 200 day moving average price is $386.42. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $104.42 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $9.65 earnings per share. Sell-side analysts predict that Deere & Company will post 25.8 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th were given a $1.47 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.57%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Deere & Company Company Profile

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.