Belleair Asset Management LLC Takes $410,000 Position in Deere & Company $DE

Belleair Asset Management LLC purchased a new position in shares of Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 880 shares of the industrial products company’s stock, valued at approximately $410,000.

A number of other large investors have also recently bought and sold shares of DE. M&T Bank Corp boosted its stake in Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after purchasing an additional 1,721,239 shares during the period. Van ECK Associates Corp boosted its stake in Deere & Company by 278.0% during the 3rd quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after purchasing an additional 358,687 shares during the period. Invesco Ltd. boosted its stake in Deere & Company by 21.7% during the 3rd quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock worth $829,930,000 after purchasing an additional 323,512 shares during the period. Capital World Investors boosted its stake in Deere & Company by 5.5% during the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after purchasing an additional 322,582 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in Deere & Company during the 3rd quarter worth $143,519,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 5.6%

Shares of Deere & Company stock opened at $591.19 on Friday. The company has a market cap of $159.68 billion, a P/E ratio of 33.33, a PEG ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The firm has a fifty day moving average of $590.37 and a two-hundred day moving average of $528.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. Deere & Company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.19 EPS. On average, analysts forecast that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on DE shares. Robert W. Baird decreased their price target on shares of Deere & Company from $675.00 to $580.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. BMO Capital Markets increased their price target on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Citigroup decreased their price target on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research note on Monday, March 9th. Finally, Barclays increased their price target on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and an average target price 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.