19,823 Shares in Deere & Company $DE Purchased by Entropy Technologies LP

Key Points

• Entropy Technologies LP bought a new stake of 19,823 shares of Deere & Company (DE) in Q3, worth about $9.06 million, making DE 0.7% of its portfolio and its 20th largest holding.
• Deere topped expectations for the most recent quarter with $2.42 EPS vs $1.90 consensus and revenue of $9.61 billion (up 17.5% year‑over‑year).
• Analyst sentiment is largely bullish: UBS raised its target to $775, the consensus price target is $644.70, and the stock carries a "Moderate Buy" rating on MarketBeat.

Entropy Technologies LP purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,823 shares of the industrial products company's stock, valued at approximately $9,064,000. Deere & Company accounts for 0.7% of Entropy Technologies LP's investment portfolio, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Howard Hughes Medical Institute bought a new position in shares of Deere & Company during the second quarter valued at approximately $27,000. Activest Wealth Management boosted its holdings in Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 27 shares in the last quarter. United Community Bank increased its position in Deere & Company by 67.3% during the 3rd quarter. United Community Bank now owns 92 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 37 shares during the period. Lynch Asset Management Inc. purchased a new position in Deere & Company during the 3rd quarter valued at $46,000. Finally, Vision Financial Markets LLC bought a new position in Deere & Company in the 3rd quarter worth $46,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of DE opened at $587.30 on Friday. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $674.19. The firm's 50-day simple moving average is $562.00 and its two-hundred day simple moving average is $502.36. The stock has a market cap of $158.64 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 2.08 and a beta of 0.96. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. During the same period last year, the business earned $3.19 earnings per share. The business's revenue was up 17.5% on a year-over-year basis. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company's payout ratio is presently 36.53%.

Insider Activity

In related news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares of the company's stock, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the firm's stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the sale, the chief executive officer owned 117,970 shares of the company's stock, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

DE has been the topic of a number of research reports. UBS Group lifted their target price on shares of Deere & Company from $535.00 to $775.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Wolfe Research lifted their price objective on Deere & Company from $520.00 to $550.00 and gave the company an "outperform" rating in a research report on Friday, January 2nd. Sanford C. Bernstein upped their target price on Deere & Company from $521.00 to $615.00 and gave the stock a "market perform" rating in a report on Friday, February 20th. Jefferies Financial Group lowered Deere & Company from a "hold" rating to an "underperform" rating and increased their target price for the stock from $475.00 to $550.00 in a research report on Monday, February 23rd. Finally, Oppenheimer restated an "outperform" rating and issued a $715.00 target price on shares of Deere & Company in a research note on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $644.70.

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.

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