New Republic Capital LLC Purchases 12,941 Shares of Deere & Company $DE

New Republic Capital LLC raised its position in Deere & Company (NYSE:DE) by 132.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,693 shares of the industrial products company’s stock after acquiring an additional 12,941 shares during the quarter. Deere & Company makes up approximately 3.2% of New Republic Capital LLC’s portfolio, making the stock its 5th biggest position. New Republic Capital LLC’s holdings in Deere & Company were worth $10,377,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in DE. Lynch Asset Management Inc. acquired a new stake in Deere & Company during the 3rd quarter worth approximately $46,000. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Deere & Company by 2.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,633 shares of the industrial products company’s stock valued at $3,948,000 after acquiring an additional 221 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Deere & Company by 4.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 790,366 shares of the industrial products company’s stock valued at $361,403,000 after purchasing an additional 34,208 shares during the period. Cornell Pochily Investment Advisors Inc. grew its stake in Deere & Company by 1.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,560 shares of the industrial products company’s stock worth $1,628,000 after purchasing an additional 61 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in Deere & Company during the 3rd quarter worth about $837,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $490.82 on Tuesday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $533.78. The company has a market cap of $132.74 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.87 and a beta of 1.00. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The firm has a 50 day moving average price of $475.30 and a 200 day moving average price of $481.56.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The business had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the company posted $4.55 earnings per share. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company’s dividend payout ratio is 35.01%.

Insider Transactions at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DE. Jefferies Financial Group boosted their price objective on Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. BMO Capital Markets reaffirmed a “market perform” rating and set a $460.00 price objective on shares of Deere & Company in a research report on Tuesday, December 9th. Morgan Stanley reissued an “overweight” rating and issued a $560.00 target price on shares of Deere & Company in a report on Tuesday, December 9th. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Finally, Daiwa Capital Markets decreased their target price on Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $524.20.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.