Hurley Capital LLC Makes New Investment in Deere & Company (NYSE:DE)

Hurley Capital LLC acquired a new position in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 317 shares of the industrial products company’s stock, valued at approximately $135,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. increased its stake in Deere & Company by 2.8% in the fourth quarter. Wedbush Securities Inc. now owns 9,427 shares of the industrial products company’s stock valued at $3,994,000 after acquiring an additional 256 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Deere & Company by 6.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 259,400 shares of the industrial products company’s stock valued at $109,908,000 after buying an additional 15,099 shares during the period. Aviva PLC boosted its stake in Deere & Company by 12.9% in the fourth quarter. Aviva PLC now owns 156,336 shares of the industrial products company’s stock valued at $66,240,000 after acquiring an additional 17,860 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of Deere & Company during the 4th quarter valued at $32,948,000. Finally, Broderick Brian C boosted its position in shares of Deere & Company by 8.7% in the 4th quarter. Broderick Brian C now owns 1,253 shares of the industrial products company’s stock worth $531,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 3.8 %

Shares of NYSE DE opened at $430.25 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The stock has a market capitalization of $116.78 billion, a P/E ratio of 19.07, a PEG ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The business’s 50 day moving average is $476.55 and its two-hundred day moving average is $441.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

Insider Transactions at Deere & Company

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Argus set a $510.00 target price on Deere & Company in a research note on Friday, March 7th. Evercore ISI raised their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. StockNews.com raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, March 29th. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Citigroup increased their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $460.00.

Deere & Company Profile

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.