Avestar Capital LLC Purchases 1,971 Shares of Deere & Company $DE

Avestar Capital LLC grew its position in Deere & Company (NYSE:DE) by 121.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,598 shares of the industrial products company’s stock after purchasing an additional 1,971 shares during the quarter. Avestar Capital LLC’s holdings in Deere & Company were worth $1,830,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of DE. Norges Bank acquired a new position in Deere & Company in the second quarter valued at $1,578,243,000. Nuveen LLC bought a new position in shares of Deere & Company in the 1st quarter worth about $571,073,000. Marshall Wace LLP lifted its stake in shares of Deere & Company by 573.9% in the 2nd quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock valued at $428,597,000 after purchasing an additional 717,808 shares during the period. TD Asset Management Inc lifted its stake in shares of Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after purchasing an additional 410,636 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Deere & Company by 97.1% during the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after purchasing an additional 361,526 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Deere & Company news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the transaction, the chief executive officer owned 112,453 shares in the company, valued at approximately $56,235,496.24. The trade was a 8.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $475.13 on Friday. The business’s fifty day moving average is $467.81 and its 200 day moving average is $489.21. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The stock has a market cap of $128.44 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.78 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter last year, the firm posted $4.55 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is presently 35.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DE shares. Jefferies Financial Group lowered their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Wells Fargo & Company initiated coverage on shares of Deere & Company in a research note on Thursday, November 13th. They issued an “overweight” rating and a $543.00 price objective for the company. Sanford C. Bernstein increased their target price on shares of Deere & Company from $487.00 to $521.00 and gave the stock a “market perform” rating in a research note on Thursday, November 13th. Finally, Citigroup reduced their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $518.95.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.