MainStreet Investment Advisors LLC Takes Position in Deere & Company (NYSE:DE)

MainStreet Investment Advisors LLC bought a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,440 shares of the industrial products company’s stock, valued at approximately $382,000.

A number of other large investors also recently modified their holdings of DE. LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $101,000. Icon Wealth Partners LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $110,000. Cerebellum GP LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $132,000. TCI Wealth Advisors Inc. grew its holdings in shares of Deere & Company by 107.3% during the 4th quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 458 shares during the period. Finally, Wealthcare Advisory Partners LLC purchased a new position in shares of Deere & Company during the 3rd quarter worth $144,000. Institutional investors own 67.32% of the company’s stock.

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A number of brokerages recently commented on DE. Zacks Investment Research cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, February 19th. TheStreet cut Deere & Company from a “b+” rating to a “c+” rating in a report on Friday, February 16th. Credit Suisse Group restated an “outperform” rating and set a $231.00 target price (up from $198.00) on shares of Deere & Company in a report on Tuesday, February 20th. Seaport Global Securities restated a “hold” rating on shares of Deere & Company in a report on Thursday, January 18th. Finally, Jefferies Group restated a “hold” rating and set a $175.00 target price on shares of Deere & Company in a report on Friday, February 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $172.07.

DE stock traded down $5.95 during mid-day trading on Friday, reaching $145.39. The company had a trading volume of 3,294,018 shares, compared to its average volume of 2,649,928. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.98 and a quick ratio of 1.69. Deere & Company has a fifty-two week low of $107.04 and a fifty-two week high of $175.26. The firm has a market capitalization of $47,075.54, a P/E ratio of 21.76, a P/E/G ratio of 2.69 and a beta of 0.80.

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

The firm also recently announced 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. This represents a $2.40 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, March 28th. Deere & Company’s dividend payout ratio (DPR) is presently 35.93%.

In other news, insider Max A. Guinn sold 11,235 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $168.68, for a total transaction of $1,895,119.80. Following the sale, the insider now owns 39,406 shares of the company’s stock, valued at approximately $6,647,004.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mary K.W. Jones sold 10,220 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $165.06, for a total value of $1,686,913.20. The disclosure for this sale can be found here. Insiders have sold a total of 380,397 shares of company stock worth $62,811,005 in the last three months. Corporate insiders own 0.74% of the company’s stock.

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About Deere & Company

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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