Seelaus Asset Management LLC Acquires Shares of 1,300 Deere & Company (DE)
Seelaus Asset Management LLC acquired a new stake in Deere & Company (NYSE:DE) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 1,300 shares of the industrial products company’s stock, valued at approximately $208,000.
Other large investors have also added to or reduced their stakes in the company. Destination Wealth Management raised its position in shares of Deere & Company by 20,500.0% during the fourth quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 205 shares during the last quarter. Private Ocean LLC raised its position in shares of Deere & Company by 560.0% during the first quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 168 shares during the last quarter. Ellis Investment Partners LLC bought a new position in shares of Deere & Company during the first quarter worth about $33,000. Oregon Public Employees Retirement Fund raised its position in shares of Deere & Company by 14,550.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 5,179,386 shares during the last quarter. Finally, Legacy Financial Advisors Inc. raised its position in shares of Deere & Company by 155.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 145 shares during the last quarter. 68.93% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on DE. Argus raised their price objective on Deere & Company to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. UBS Group began coverage on Deere & Company in a research report on Tuesday, April 23rd. They set a “neutral” rating and a $238.00 price objective for the company. Macquarie began coverage on Deere & Company in a research report on Wednesday, May 1st. They set an “outperform” rating for the company. JPMorgan Chase & Co. downgraded Deere & Company from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $154.00 to $132.00 in a research report on Tuesday. Finally, Zacks Investment Research downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $165.00.
Deere & Company (NYSE:DE) last issued its earnings results on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.83 billion. Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 earnings per share. On average, research analysts predict that Deere & Company will post 11.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 2.09%. Deere & Company’s payout ratio is currently 32.37%.
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Deere & Company 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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