Clearstead Trust LLC Makes New $3.34 Million Investment in Deere & Company (NYSE:DE)

Clearstead Trust LLC acquired a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,879 shares of the industrial products company’s stock, valued at approximately $3,338,000. Deere & Company accounts for about 0.7% of Clearstead Trust LLC’s investment portfolio, making the stock its 24th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Victory Capital Management Inc. increased its stake in Deere & Company by 2.6% in the third quarter. Victory Capital Management Inc. now owns 100,110 shares of the industrial products company’s stock valued at $41,779,000 after acquiring an additional 2,569 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Deere & Company by 1.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 16,009 shares of the industrial products company’s stock worth $6,681,000 after buying an additional 201 shares during the last quarter. Cable Hill Partners LLC bought a new stake in Deere & Company during the third quarter worth about $214,000. KBC Group NV grew its stake in Deere & Company by 10.9% during the third quarter. KBC Group NV now owns 101,794 shares of the industrial products company’s stock worth $42,482,000 after buying an additional 9,968 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in Deere & Company by 0.5% during the third quarter. Metis Global Partners LLC now owns 10,068 shares of the industrial products company’s stock worth $4,202,000 after buying an additional 49 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $478.67 on Friday. The company has a 50 day simple moving average of $466.59 and a 200 day simple moving average of $432.84. The stock has a market cap of $129.92 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird reissued a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Citigroup raised their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $460.00.

About Deere & Company

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.