USA Financial Portformulas Corp Takes Position in Deere & Company (NYSE:DE)

Margie D. Moore

USA Financial Portformulas Corp purchased a new stake in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,072 shares of the industrial products company’s stock, valued at approximately $1,365,000. Deere & Company comprises about 1.1% of USA Financial Portformulas Corp’s investment portfolio, making the stock its 29th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glassman Wealth Services boosted its stake in Deere & Company by 78.9% in the third quarter. Glassman Wealth Services now owns 127 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 56 shares during the last quarter. Leelyn Smith LLC boosted its stake in Deere & Company by 2,500.0% in the fourth quarter. Leelyn Smith LLC now owns 104 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Clearview Wealth Advisors LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $32,000. Exchange Traded Concepts LLC boosted its stake in Deere & Company by 1,133.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 148 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 136 shares during the last quarter. Finally, Fiduciary Planning LLC bought a new position in Deere & Company in the third quarter valued at approximately $44,000. 66.77% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on DE. BMO Capital Markets lifted their price target on shares of Deere & Company from $300.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday, January 25th. Jefferies Financial Group lifted their price target on shares of Deere & Company from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, January 15th. Vertical Research began coverage on shares of Deere & Company in a research report on Wednesday, January 20th. They set a “buy” rating and a $345.00 price target on the stock. UBS Group lifted their price target on shares of Deere & Company from $255.00 to $267.00 and gave the stock a “neutral” rating in a research report on Monday, November 30th. Finally, Citigroup lifted their price target on shares of Deere & Company from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, October 12th. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $276.05.

DE stock traded up $8.57 during midday trading on Tuesday, hitting $300.78. The company’s stock had a trading volume of 20,064 shares, compared to its average volume of 1,714,205. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.24 and a quick ratio of 2.03. Deere & Company has a twelve month low of $106.14 and a twelve month high of $306.96. The company’s fifty day moving average price is $283.04 and its 200 day moving average price is $236.96. The stock has a market capitalization of $94.57 billion, a P/E ratio of 33.59, a PEG ratio of 1.43 and a beta of 0.96.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Tuesday, November 24th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.95. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. The firm had revenue of $8.66 billion for the quarter, compared to analyst estimates of $7.30 billion. Equities analysts expect that Deere & Company will post 13.09 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Stockholders of record on Thursday, December 31st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Wednesday, December 30th. Deere & Company’s dividend payout ratio (DPR) is presently 34.98%.

In other news, CAO Marc A. Howze sold 20,467 shares of Deere & Company stock in a transaction dated Thursday, December 3rd. The shares were sold at an average price of $258.49, for a total value of $5,290,514.83. Following the completion of the transaction, the chief accounting officer now owns 22,787 shares of the company’s stock, valued at approximately $5,890,211.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Marc A. Howze sold 14,619 shares of Deere & Company stock in a transaction dated Wednesday, January 6th. The stock was sold at an average price of $289.00, for a total transaction of $4,224,891.00. Following the sale, the chief accounting officer now directly owns 35,920 shares of the company’s stock, valued at approximately $10,380,880. The disclosure for this sale can be found here. In the last three months, insiders sold 121,468 shares of company stock valued at $31,836,175. Insiders own 0.70% of the company’s stock.

Deere & Company Profile

Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

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



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