AlphaStar Capital Management LLC Invests $1.61 Million in Deere & Company (DE) Stock

AlphaStar Capital Management LLC acquired a new stake in Deere & Company (NYSE:DE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,835 shares of the industrial products company’s stock, valued at approximately $1,612,000. Deere & Company accounts for approximately 1.6% of AlphaStar Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding.

A number of other large investors also recently added to or reduced their stakes in DE. Vanguard Group Inc. grew its stake in Deere & Company by 5.6% in the second quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock worth $2,668,774,000 after purchasing an additional 1,153,484 shares in the last quarter. BlackRock Inc. boosted its stake in Deere & Company by 2.5% in the second quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock valued at $2,116,517,000 after acquiring an additional 409,861 shares during the period. Capital International Investors boosted its stake in Deere & Company by 35.4% in the third quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock valued at $1,106,131,000 after acquiring an additional 2,300,531 shares during the period. FMR LLC boosted its stake in Deere & Company by 18.3% in the second quarter. FMR LLC now owns 5,032,313 shares of the industrial products company’s stock valued at $621,943,000 after acquiring an additional 777,519 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Deere & Company by 21.2% in the third quarter. Bank of New York Mellon Corp now owns 3,621,764 shares of the industrial products company’s stock valued at $454,857,000 after acquiring an additional 634,001 shares during the period. 67.75% of the stock is currently owned by institutional investors.

In related news, insider James M. Field sold 48,427 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $147.98, for a total value of $7,166,227.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rajesh Kalathur sold 4,519 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $148.92, for a total transaction of $672,969.48. Following the completion of the transaction, the chief financial officer now directly owns 36,288 shares of the company’s stock, valued at approximately $5,404,008.96. The disclosure for this sale can be found here. Insiders have sold 219,486 shares of company stock valued at $29,869,619 in the last three months. 0.75% of the stock is owned by insiders.

A number of equities analysts have commented on DE shares. ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank lifted their price target on Deere & Company from $129.00 to $149.00 and gave the company a “hold” rating in a report on Thursday, November 16th. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Thursday, November 2nd. Goldman Sachs Group reaffirmed a “buy” rating on shares of Deere & Company in a report on Sunday, August 20th. Finally, Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $140.00 to $155.00 in a report on Tuesday, November 21st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $140.33.

Shares of Deere & Company (DE) opened at $151.58 on Monday. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.71. The firm has a market cap of $48,702.18, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 2.34 and a beta of 0.77. Deere & Company has a twelve month low of $100.05 and a twelve month high of $152.68.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.10. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The company had revenue of $7.09 billion during the quarter, compared to the consensus estimate of $6.91 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue was up 25.6% compared to the same quarter last year. sell-side analysts anticipate that Deere & Company will post 7.9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, December 29th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, December 28th. Deere & Company’s dividend payout ratio is 36.14%.

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Deere & Company Company Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

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

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