Verity & Verity LLC Invests $1.11 Million in Deere & Company (NYSE:DE)

Verity & Verity LLC acquired a new position in shares of Deere & Company (NYSE:DE – Get Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,595 shares of the industrial products company’s stock, valued at approximately $1,113,000.

A number of other large investors have also bought and sold shares of the stock. Stonnington Group LLC grew its holdings in Deere & Company by 34.3% in the fourth quarter. Stonnington Group LLC now owns 15,115 shares of the industrial products company’s stock worth $6,612,000 after purchasing an additional 3,863 shares during the period. Cullinan Associates Inc. grew its holdings in Deere & Company by 3.0% in the fourth quarter. Cullinan Associates Inc. now owns 26,315 shares of the industrial products company’s stock worth $11,283,000 after purchasing an additional 755 shares during the period. Legacy Bridge LLC grew its holdings in Deere & Company by 1.8% in the fourth quarter. Legacy Bridge LLC now owns 4,523 shares of the industrial products company’s stock worth $1,939,000 after purchasing an additional 78 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Deere & Company by 20.0% in the fourth quarter. Sound Income Strategies LLC now owns 474 shares of the industrial products company’s stock valued at $203,000 after buying an additional 79 shares in the last quarter. Finally, Enterprise Bank & Trust Co bought a new position in shares of Deere & Company in the fourth quarter valued at $683,000. 75.72% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 1.4 %

Shares of Deere & Company stock opened at $385.50 on Friday. Deere & Company has a 1 year low of $283.81 and a 1 year high of $448.40. The firm has a market cap of $114.23 billion, a PE ratio of 14.30, a PEG ratio of 1.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.07 and a quick ratio of 1.76. The company has a 50 day simple moving average of $417.58 and a two-hundred day simple moving average of $403.13.

Deere & Company (NYSE:DE – Get Rating) last announced its earnings results on Friday, February 17th. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $1.02. Deere & Company had a net margin of 14.71% and a return on equity of 41.17%. The business had revenue of $11.40 billion during the quarter, compared to analyst estimates of $11.14 billion. During the same period in the previous year, the business posted $2.92 earnings per share. Deere & Company’s revenue for the quarter was up 33.7% on a year-over-year basis. Analysts expect that Deere & Company will post 30.58 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 8th. Investors of record on Friday, March 31st will be issued a dividend of $1.25 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, March 30th. Deere & Company’s dividend payout ratio is currently 17.80%.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on shares of Deere & Company from $470.00 to $512.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. Sanford C. Bernstein raised their price objective on shares of Deere & Company from $364.00 to $398.00 and gave the company a “market perform” rating in a research note on Tuesday, February 21st. Citigroup raised their price objective on shares of Deere & Company from $425.00 to $505.00 and gave the company a “buy” rating in a research note on Thursday, December 1st. Wells Fargo & Company raised their price objective on shares of Deere & Company from $485.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, February 20th. Finally, UBS Group raised their price objective on shares of Deere & Company from $374.00 to $452.00 and gave the company a “neutral” rating in a research note on Friday, November 25th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $460.81.

Deere & Company Profile

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Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.