Caprock Group LLC Acquires New Position in Deere & Company $DE

Caprock Group LLC acquired a new stake in Deere & Company (NYSE:DE) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 7,004 shares of the industrial products company’s stock, valued at approximately $3,352,000.

A number of other institutional investors also recently modified their holdings of DE. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company during the second quarter worth $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company in the 2nd quarter worth about $27,000. Activest Wealth Management raised its stake in shares of Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 27 shares in the last quarter. Center for Financial Planning Inc. raised its stake in shares of Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares in the last quarter. Finally, Soundwatch Capital LLC acquired a new stake in shares of Deere & Company during the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DE. Wells Fargo & Company began coverage on Deere & Company in a report on Thursday, November 13th. They issued an “overweight” rating and a $543.00 price objective on the stock. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Zacks Research raised shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Oppenheimer upped their price objective on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $460.00 target price on shares of Deere & Company in a research report on Tuesday, December 9th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

Deere & Company Price Performance

NYSE DE opened at $613.47 on Thursday. The stock has a market capitalization of $166.29 billion, a PE ratio of 33.14, a P/E/G ratio of 2.37 and a beta of 1.02. The stock has a 50-day simple moving average of $502.71 and a 200 day simple moving average of $486.03. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a twelve month low of $404.42 and a twelve month high of $614.34.

Deere & Company (NYSE:DE) last issued 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 return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same quarter last year, the firm earned $4.55 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st were issued a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio is 35.01%.

Insider Buying and Selling at Deere & Company

In other news, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the transaction, the chief executive officer owned 117,970 shares in the company, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the sale, the insider owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. The trade was a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,578 shares of company stock worth $32,471,682 over the last 90 days. 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.