Clark Capital Management Group Inc. Boosts Stock Position in Deere & Company (NYSE:DE)

Clark Capital Management Group Inc. increased its holdings in Deere & Company (NYSE:DE) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,103 shares of the industrial products company’s stock after purchasing an additional 321 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Deere & Company were worth $1,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Robertson Stephens Wealth Management LLC grew its holdings in shares of Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 22 shares during the period. DLK Investment Management LLC boosted its holdings in Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after purchasing an additional 24 shares during the last quarter. Quent Capital LLC grew its stake in shares of Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after buying an additional 24 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Deere & Company by 0.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after buying an additional 24 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its holdings in Deere & Company by 1.2% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 2,115 shares of the industrial products company’s stock valued at $896,000 after acquiring an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.5 %

NYSE DE opened at $492.33 on Friday. The firm’s fifty day moving average is $465.80 and its two-hundred day moving average is $450.92. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a market cap of $133.63 billion, a PE ratio of 21.82, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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%. Analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were paid a $1.62 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.32%. Deere & Company’s dividend payout ratio is currently 28.72%.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on DE. Morgan Stanley upped their price target on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. Evercore ISI lifted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Citigroup dropped their target price on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday, April 6th. Finally, Argus set a $510.00 price objective on Deere & Company in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $460.21.

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.