Bessemer Group Inc. Has $716,000 Stake in Deere & Company (DE)
Bessemer Group Inc. grew its stake in shares of Deere & Company (NYSE:DE) by 33.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,574 shares of the industrial products company’s stock after acquiring an additional 1,149 shares during the quarter. Bessemer Group Inc.’s holdings in Deere & Company were worth $716,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of DE. Cerebellum GP LLC bought a new position in shares of Deere & Company during the fourth quarter valued at $132,000. Wealthcare Advisory Partners LLC bought a new position in shares of Deere & Company during the third quarter valued at $144,000. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Deere & Company during the third quarter valued at $158,000. AllSquare Wealth Management LLC bought a new position in shares of Deere & Company during the third quarter valued at $171,000. Finally, Fieldpoint Private Securities LLC bought a new position in shares of Deere & Company during the third quarter valued at $192,000. Hedge funds and other institutional investors own 67.28% of the company’s stock.
Several research firms recently commented on DE. Citigroup lifted their price objective on Deere & Company from $165.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Barclays set a $176.00 price objective on Deere & Company and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Seaport Global Securities reiterated a “hold” rating on shares of Deere & Company in a report on Thursday, January 18th. ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $184.00 price objective (up from $161.00) on shares of Deere & Company in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $155.21.
Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.10. The business had revenue of $7.09 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. equities analysts anticipate that Deere & Company will post 8.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, December 29th were given a $0.60 dividend. The ex-dividend date was Thursday, December 28th. This represents a $2.40 annualized dividend and a yield of 1.55%. Deere & Company’s payout ratio is 36.09%.
In other Deere & Company news, VP Mary K.W. Jones sold 34,136 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $124.72, for a total value of $4,257,441.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James M. Field sold 48,427 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $147.98, for a total value of $7,166,227.46. The disclosure for this sale can be found here. Insiders sold 187,603 shares of company stock worth $28,058,143 over the last three months. Insiders own 0.74% of the company’s stock.
Deere & Company 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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