Turtle Creek Wealth Advisors LLC Grows Position in Deere & Company $DE

Turtle Creek Wealth Advisors LLC increased its holdings in Deere & Company (NYSE:DE) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,270 shares of the industrial products company’s stock after acquiring an additional 996 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Deere & Company were worth $1,988,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Capital World Investors lifted its stake in Deere & Company by 5.5% in the third quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after acquiring an additional 322,582 shares during the period. Fisher Asset Management LLC lifted its stake in Deere & Company by 5.5% in the third quarter. Fisher Asset Management LLC now owns 2,722,018 shares of the industrial products company’s stock worth $1,244,670,000 after acquiring an additional 141,790 shares during the period. M&T Bank Corp lifted its stake in Deere & Company by 1,199.8% in the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after acquiring an additional 1,721,239 shares during the period. Invesco Ltd. lifted its stake in Deere & Company by 21.7% in the third quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock worth $829,930,000 after acquiring an additional 323,512 shares during the period. Finally, Legal & General Group Plc lifted its stake in Deere & Company by 7.6% in the third quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock worth $755,385,000 after acquiring an additional 115,975 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE opened at $592.76 on Friday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The company has a market cap of $160.11 billion, a P/E ratio of 33.41, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. The firm’s 50-day moving average price is $594.41 and its 200-day moving average price is $524.92.

Deere & Company (NYSE:DE) last posted 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 net margin of 10.29% and a return on equity of 18.93%. The firm had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 18.01 EPS 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 issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is 36.53%.

Analyst Ratings Changes

A number of research firms recently weighed in on DE. Bank of America upped their price objective on shares of Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Morgan Stanley increased their price target on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. BMO Capital Markets increased their price target on shares of Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Oppenheimer reissued an “outperform” rating and set a $715.00 price target on shares of Deere & Company in a research report on Friday, February 20th. Finally, Royal Bank Of Canada increased their price target on shares of Deere & Company from $541.00 to $736.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $655.45.

Deere & Company Company Profile

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.