Triumph Capital Management Makes New $749,000 Investment in Deere & Company $DE

Triumph Capital Management purchased a new stake in Deere & Company (NYSE:DE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,637 shares of the industrial products company’s stock, valued at approximately $749,000.

Other hedge funds have also bought and sold shares of the company. Strategic Advocates LLC acquired a new stake in shares of Deere & Company in the 3rd quarter valued at about $25,000. Howard Hughes Medical Institute purchased a new stake in Deere & Company in the 2nd quarter valued at $27,000. Activest Wealth Management lifted its position in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 27 shares in the last quarter. Wealth Watch Advisors INC bought a new position in shares of Deere & Company during the 3rd quarter worth approximately $32,000. Finally, Soundwatch Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter valued at $41,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of a number of research reports. DA Davidson lifted their price target on shares of Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Citigroup cut their price target on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a report on Monday, March 9th. Bank of America boosted their price objective on Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Wolfe Research increased their target price on Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Finally, Oppenheimer restated an “outperform” rating and issued a $715.00 price objective on shares of Deere & Company in a report on Friday, February 20th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $644.70.

Insider Buying and Selling

In related news, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the transaction, the chief executive officer owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $570.36 on Thursday. The firm’s 50-day simple moving average is $570.02 and its two-hundred day simple moving average is $504.85. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The stock has a market cap of $154.06 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $674.19.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. During the same period in the prior year, the firm posted $3.19 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s payout ratio is presently 36.53%.

About Deere & Company

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.