Permanent Capital Management LP Acquires Shares of 1,461 Deere & Company $DE

Permanent Capital Management LP bought a new position in shares of Deere & Company (NYSE:DE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,461 shares of the industrial products company’s stock, valued at approximately $670,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. Mid American Wealth Advisory Group Inc. bought a new position in Deere & Company during the 2nd quarter worth $25,000. Activest Wealth Management grew its holdings in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in shares of Deere & Company during the 2nd quarter worth $27,000. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company in the second quarter worth $38,000. Finally, Livelsberger Financial Advisory acquired a new position in Deere & Company in the second quarter valued at about $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.3%

Shares of NYSE:DE opened at $468.84 on Monday. The firm has a market cap of $126.80 billion, a P/E ratio of 25.33, a P/E/G ratio of 1.80 and a beta of 1.00. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The business has a fifty day simple moving average of $473.11 and a 200 day simple moving average of $484.67. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68.

Deere & Company (NYSE:DE) last released 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 company had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter last year, the firm posted $4.55 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date 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 issued reports on DE shares. BMO Capital Markets reiterated a “market perform” rating and set a $460.00 price objective on shares of Deere & Company in a research note on Tuesday, December 9th. Evercore ISI reissued a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Robert W. Baird cut their price objective on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Royal Bank Of Canada reduced their price objective on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday, November 28th. Finally, Oppenheimer increased their target price on Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $522.70.

Insider Activity

In other news, CEO John C. May II sold 11,106 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This represents a 8.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.