Cerebellum GP LLC Grows Stock Position in Deere & Company (NYSE:DE)

Cerebellum GP LLC boosted its stake in Deere & Company (NYSE:DE) by 293.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,319 shares of the industrial products company’s stock after acquiring an additional 2,476 shares during the quarter. Deere & Company comprises about 0.3% of Cerebellum GP LLC’s holdings, making the stock its 20th largest holding. Cerebellum GP LLC’s holdings in Deere & Company were worth $575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AE Wealth Management LLC raised its position in shares of Deere & Company by 6.0% in the 4th quarter. AE Wealth Management LLC now owns 15,108 shares of the industrial products company’s stock valued at $2,618,000 after purchasing an additional 854 shares in the last quarter. Arlington Financial Advisors LLC raised its position in shares of Deere & Company by 0.6% in the 4th quarter. Arlington Financial Advisors LLC now owns 15,752 shares of the industrial products company’s stock valued at $2,729,000 after purchasing an additional 89 shares in the last quarter. FormulaFolio Investments LLC raised its position in shares of Deere & Company by 1.6% in the 4th quarter. FormulaFolio Investments LLC now owns 5,173 shares of the industrial products company’s stock valued at $896,000 after purchasing an additional 82 shares in the last quarter. Coastline Trust Co raised its position in shares of Deere & Company by 14.4% in the 4th quarter. Coastline Trust Co now owns 8,340 shares of the industrial products company’s stock valued at $1,445,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. raised its position in shares of Deere & Company by 4.9% in the 4th quarter. Honkamp Krueger Financial Services Inc. now owns 9,096 shares of the industrial products company’s stock valued at $1,576,000 after purchasing an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 67.53% of the company’s stock.

A number of brokerages have issued reports on DE. Citigroup cut their target price on Deere & Company from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Monday, December 2nd. UBS Group cut their target price on Deere & Company from $180.00 to $169.00 and set a “neutral” rating on the stock in a research report on Friday, November 29th. Robert W. Baird set a $178.00 target price on Deere & Company and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley upped their target price on Deere & Company from $180.00 to $197.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Finally, Argus reissued a “positive” rating and set a $185.00 price target on shares of Deere & Company in a research report on Tuesday, December 3rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $172.79.

DE stock opened at $172.92 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.80 and a debt-to-equity ratio of 2.65. The firm has a market cap of $54.67 billion, a P/E ratio of 17.40, a P/E/G ratio of 4.11 and a beta of 1.13. Deere & Company has a 12-month low of $132.68 and a 12-month high of $180.48. The stock’s 50 day simple moving average is $172.16 and its 200 day simple moving average is $166.72.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.01. The business had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.41 billion. Deere & Company had a return on equity of 27.11% and a net margin of 8.29%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.30 EPS. On average, research analysts forecast that Deere & Company will post 9.44 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, December 30th. Deere & Company’s dividend payout ratio is currently 30.58%.

In related news, Chairman Samuel R. Allen sold 114,253 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the completion of the transaction, the chairman now directly owns 423,497 shares in the company, valued at approximately $75,509,515.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James M. Field sold 12,637 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $180.00, for a total value of $2,274,660.00. Following the transaction, the insider now owns 113,858 shares of the company’s stock, valued at $20,494,440. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,228 shares of company stock worth $26,934,906. Corporate insiders own 0.71% of the company’s stock.

Deere & 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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