Vivaldi Capital Management LP Has $22.49 Million Stake in Deere & Company (NYSE:DE)

Vivaldi Capital Management LP lifted its holdings in shares of Deere & Company (NYSE:DE) by 8,104.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 53,081 shares of the industrial products company’s stock after acquiring an additional 52,434 shares during the period. Deere & Company accounts for approximately 3.4% of Vivaldi Capital Management LP’s holdings, making the stock its 3rd biggest holding. Vivaldi Capital Management LP’s holdings in Deere & Company were worth $22,490,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DE. Pineridge Advisors LLC boosted its position in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. YANKCOM Partnership purchased a new stake in Deere & Company in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $35,000. Sierra Ocean LLC acquired a new position in Deere & Company in the fourth quarter valued at approximately $44,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in Deere & Company in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Barclays boosted their price target on Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a report on Friday. DA Davidson reissued a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a report on Friday. Morgan Stanley boosted their price target on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Finally, UBS Group decreased their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $504.38.

Deere & Company Stock Up 3.0%

Shares of NYSE:DE opened at $531.79 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The business has a fifty day moving average of $468.29 and a two-hundred day moving average of $455.02. The stock has a market cap of $144.34 billion, a P/E ratio of 23.57, a PEG ratio of 2.14 and a beta of 1.08. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78.

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, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $8.53 EPS. On average, research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

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.