Alamar Capital Management LLC Takes $475,000 Position in Deere & Company $DE

Alamar Capital Management LLC bought a new stake in shares of Deere & Company (NYSE:DE) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 840 shares of the industrial products company’s stock, valued at approximately $475,000.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Norges Bank bought a new stake in Deere & Company in the fourth quarter valued at $1,715,633,000. Capital World Investors raised its holdings in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after purchasing an additional 1,893,972 shares in the last quarter. M&T Bank Corp grew its stake in shares of Deere & Company by 1,199.8% in the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after buying an additional 1,721,239 shares during the period. Finally, Diamant Asset Management Inc. grew its stake in shares of Deere & Company by 56,230.0% in the 1st quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock valued at $343,961,000 after buying an additional 609,533 shares during the period. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

DE has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Oppenheimer reissued an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Raymond James Financial decreased their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. DA Davidson reaffirmed a “buy” rating and set a $685.00 target price on shares of Deere & Company in a research report on Friday, July 17th. Finally, Citigroup increased their target price on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $642.98.

Deere & Company Trading Up 3.5%

Shares of Deere & Company stock opened at $607.63 on Thursday. The company has a market capitalization of $164.02 billion, a P/E ratio of 34.43, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. The stock has a fifty day simple moving average of $583.01 and a 200 day simple moving average of $574.70. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $6.64 EPS. On average, sell-side analysts anticipate that Deere & Company will post 18.27 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

About Deere & Company

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.