Clearwave Capital LLC Buys Shares of 2,665 Deere & Company $DE

Clearwave Capital LLC acquired a new position in Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,665 shares of the industrial products company’s stock, valued at approximately $1,241,000. Deere & Company makes up about 0.9% of Clearwave Capital LLC’s investment portfolio, making the stock its 29th biggest position.

Several other large investors have also made changes to their positions in the business. Strategic Advocates LLC purchased a new stake in shares of Deere & Company during the third quarter worth $25,000. Key Capital Management INC acquired a new stake in Deere & Company in the 4th quarter valued at about $27,000. Timmons Wealth Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at $29,000. McIlrath & Eck LLC acquired a new stake in Deere & Company during the fourth quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in Deere & Company during the third quarter worth approximately $32,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of NYSE DE opened at $590.37 on Friday. The stock has a fifty day moving average price of $573.71 and a two-hundred day moving average price of $552.66. The firm has a market cap of $159.36 billion, a P/E ratio of 33.45, a PEG ratio of 2.18 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.64 earnings per share. Research analysts forecast that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

Wall Street Analyst Weigh In

DE has been the topic of a number of analyst reports. Sanford C. Bernstein lifted their price target on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. BMO Capital Markets raised their price objective on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Citigroup cut their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Robert W. Baird lowered their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a report on Wednesday, April 8th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $639.58.

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.