Mendel Money Management Takes $559,000 Position in Deere & Company (DE)
Mendel Money Management bought a new position in shares of Deere & Company (NYSE:DE) during the fourth quarter, HoldingsChannel.com reports. The firm bought 3,570 shares of the industrial products company’s stock, valued at approximately $559,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of Deere & Company by 431.0% during the 2nd quarter. Renaissance Technologies LLC now owns 152,400 shares of the industrial products company’s stock valued at $18,835,000 after purchasing an additional 123,700 shares in the last quarter. OxFORD Asset Management LLP bought a new stake in Deere & Company in the 2nd quarter valued at approximately $781,000. AHL Partners LLP lifted its stake in Deere & Company by 80.0% in the 2nd quarter. AHL Partners LLP now owns 9,708 shares of the industrial products company’s stock valued at $1,200,000 after acquiring an additional 4,316 shares in the last quarter. Prudential PLC bought a new stake in Deere & Company in the 2nd quarter valued at approximately $217,000. Finally, Shelton Capital Management bought a new stake in Deere & Company in the 2nd quarter valued at approximately $459,000. Hedge funds and other institutional investors own 67.28% of the company’s stock.
Several research firms have commented on DE. Royal Bank of Canada upgraded Deere & Company from a “sector perform” rating to an “outperform” rating and cut their target price for the company from $190.00 to $155.00 in a research note on Wednesday, January 10th. Wells Fargo & Co restated an “outperform” rating and issued a $200.00 target price (up previously from $170.00) on shares of Deere & Company in a research note on Wednesday, January 10th. Barclays upgraded Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 target price on the stock in a research note on Wednesday, January 10th. Jefferies Group reaffirmed a “hold” rating and set a $150.00 price target on shares of Deere & Company in a research report on Thursday, November 23rd. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $140.00 price target on shares of Deere & Company in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Deere & Company has an average rating of “Buy” and a consensus price target of $155.21.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.10. The business had revenue of $7.09 billion during the quarter, compared to the consensus estimate of $6.91 billion. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. equities analysts predict that Deere & Company will post 8.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, December 29th were paid a $0.60 dividend. The ex-dividend date was Thursday, December 28th. This represents a $2.40 annualized dividend and a yield of 1.49%. Deere & Company’s dividend payout ratio (DPR) is presently 36.14%.
In related news, CFO Rajesh Kalathur sold 4,519 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total value of $672,969.48. Following the completion of the sale, the chief financial officer now directly owns 36,288 shares in the company, valued at approximately $5,404,008.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mary K.W. Jones sold 34,136 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $124.72, for a total value of $4,257,441.92. The disclosure for this sale can be found here. Insiders sold a total of 187,603 shares of company stock valued at $28,058,143 over the last 90 days. 0.74% of the stock is currently owned by corporate insiders.
Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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