Victrix Investment Advisors Buys New Position in Deere & Company (NYSE:DE)

Victrix Investment Advisors purchased a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 817 shares of the industrial products company’s stock, valued at approximately $346,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Robertson Stephens Wealth Management LLC lifted its position in shares of Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 22 shares in the last quarter. DLK Investment Management LLC increased its stake in Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after buying an additional 24 shares during the period. Quent Capital LLC lifted its holdings in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after buying an additional 24 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after buying an additional 24 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its position in Deere & Company by 1.2% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 2,115 shares of the industrial products company’s stock valued at $896,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 3.0%

NYSE DE opened at $531.79 on Monday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a 50-day simple moving average of $468.29 and a 200-day simple moving average of $455.02. The firm has a market capitalization of $144.34 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Deere & Company’s revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the company posted $8.53 earnings per share. On average, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were given a dividend of $1.62 per share. The ex-dividend date was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.22%. Deere & Company’s dividend payout ratio is currently 28.72%.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DE shares. DA Davidson reiterated a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a research note on Friday. Argus set a $510.00 price objective on Deere & Company in a report on Friday, March 7th. Raymond James increased their target price on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research report on Thursday. Finally, StockNews.com raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $504.38.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.