HTLF Bank Takes Position in Deere & Company (NYSE:DE)

HTLF Bank purchased a new stake in Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,542 shares of the industrial products company’s stock, valued at approximately $617,000.

Several other hedge funds also recently added to or reduced their stakes in DE. Briaud Financial Planning Inc purchased a new position in Deere & Company in the third quarter worth approximately $25,000. Retirement Group LLC lifted its stake in Deere & Company by 264.7% during the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 45 shares in the last quarter. ZRC Wealth Management LLC acquired a new position in Deere & Company during the fourth quarter worth $28,000. Rakuten Securities Inc. acquired a new position in Deere & Company during the fourth quarter worth $28,000. Finally, Worth Asset Management LLC acquired a new position in Deere & Company during the first quarter worth $28,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $400.39 on Friday. The stock’s 50-day moving average is $385.86 and its two-hundred day moving average is $382.97. The firm has a market cap of $111.45 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.50 and a beta of 1.04. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same quarter last year, the company posted $6.55 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. Analysts predict that Deere & Company will post 27.4 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Morgan Stanley initiated coverage on Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 price target on the stock. Melius Research restated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Melius cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Wells Fargo & Company reduced their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $433.28.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.