Belpointe Asset Management LLC Buys New Position in Deere & Company (NYSE:DE)

Belpointe Asset Management LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,650 shares of the industrial products company’s stock, valued at approximately $571,000.

Other large investors also recently modified their holdings of the company. Capital International Investors raised its stake in shares of Deere & Company by 35.4% during the 3rd quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock worth $1,106,131,000 after purchasing an additional 2,300,531 shares during the period. Lazard Asset Management LLC increased its holdings in Deere & Company by 11.4% in the 4th quarter. Lazard Asset Management LLC now owns 2,740,365 shares of the industrial products company’s stock worth $428,894,000 after acquiring an additional 280,750 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Deere & Company by 128.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,587,339 shares of the industrial products company’s stock worth $324,942,000 after acquiring an additional 1,453,754 shares during the last quarter. Legal & General Group Plc increased its holdings in Deere & Company by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 1,660,073 shares of the industrial products company’s stock worth $208,473,000 after acquiring an additional 36,865 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in Deere & Company by 27.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,392,357 shares of the industrial products company’s stock worth $217,918,000 after acquiring an additional 296,148 shares during the last quarter. Institutional investors and hedge funds own 67.32% of the company’s stock.

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Several equities research analysts recently weighed in on DE shares. Wells Fargo reissued an “outperform” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Deere & Company in a report on Wednesday, January 10th. Piper Jaffray reissued a “neutral” rating and issued a $160.00 price objective (up previously from $142.00) on shares of Deere & Company in a report on Thursday, February 15th. ValuEngine raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley started coverage on Deere & Company in a report on Friday, March 2nd. They issued an “overweight” rating and a $195.00 price objective for the company. Finally, Barclays raised Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 price objective for the company in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $172.07.

In related news, CEO Samuel R. Allen sold 269,353 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $163.83, for a total value of $44,128,101.99. Following the completion of the sale, the chief executive officer now owns 361,166 shares in the company, valued at approximately $59,169,825.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James M. Field sold 22,095 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $170.06, for a total value of $3,757,475.70. Following the completion of the sale, the insider now owns 95,832 shares of the company’s stock, valued at approximately $16,297,189.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 380,397 shares of company stock valued at $62,811,005. Corporate insiders own 0.74% of the company’s stock.

Shares of DE traded down $5.95 during trading hours on Friday, reaching $145.39. 3,294,018 shares of the company’s stock traded hands, compared to its average volume of 2,649,928. The company has a market cap of $47,075.54, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.69 and a beta of 0.80. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 2.85. Deere & Company has a 12 month low of $107.04 and a 12 month high of $175.26.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.15. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.41 billion. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. analysts predict that Deere & Company will post 9.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Thursday, March 29th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.65%. Deere & Company’s dividend payout ratio (DPR) is presently 35.93%.

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Deere & 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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