1,427 Shares in Deere & Company (DE) Acquired by InterOcean Capital LLC

InterOcean Capital LLC bought a new stake in Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,427 shares of the industrial products company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Destination Wealth Management boosted its stake in Deere & Company by 20,500.0% during the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 205 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Deere & Company by 14,550.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 5,179,386 shares during the last quarter. Legacy Financial Advisors Inc. boosted its stake in Deere & Company by 155.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 145 shares during the last quarter. Lavaca Capital LLC bought a new position in Deere & Company during the 4th quarter worth approximately $41,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Deere & Company during the 4th quarter worth approximately $47,000. 67.39% of the stock is currently owned by institutional investors.

In other Deere & Company news, CFO Rajesh Kalathur sold 11,133 shares of the company’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $151.47, for a total value of $1,686,315.51. Following the transaction, the chief financial officer now directly owns 42,244 shares in the company, valued at $6,398,698.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John C. May II sold 11,661 shares of the company’s stock in a transaction on Thursday, January 17th. The shares were sold at an average price of $160.21, for a total transaction of $1,868,208.81. Following the completion of the transaction, the insider now owns 55,743 shares in the company, valued at $8,930,586.03. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.

Several research analysts recently weighed in on the stock. Credit Suisse Group reduced their price objective on shares of Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research note on Tuesday. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Thursday, February 14th. Bank of America lowered shares of Deere & Company from a “buy” rating to a “neutral” rating and cut their price target for the company from $173.00 to $170.00 in a research note on Wednesday, February 13th. OTR Global upgraded shares of Deere & Company to a “positive” rating in a report on Friday, January 18th. Finally, Argus lifted their price objective on shares of Deere & Company from $166.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 9th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $178.07.

Shares of DE opened at $158.99 on Tuesday. The firm has a market cap of $50.86 billion, a P/E ratio of 16.93, a PEG ratio of 1.59 and a beta of 0.89. Deere & Company has a 1-year low of $128.32 and a 1-year high of $175.26. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.67 and a current ratio of 1.92.

Deere & Company (NYSE:DE) last issued its earnings results on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). The firm had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.83 billion. Deere & Company had a return on equity of 29.61% and a net margin of 6.34%. Deere & Company’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. On average, analysts predict that Deere & Company will post 11.41 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Monday, December 31st were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.91%. This is an increase from Deere & Company’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, December 28th. Deere & Company’s payout ratio is presently 32.37%.

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Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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