Anchyra Partners LLC Makes New $1.48 Million Investment in Deere & Company $DE

Key Points

• Anchyra Partners LLC initiated a new Q4 position in Deere & Company (NYSE:DE), purchasing 3,174 shares valued at approximately $1.48 million.
• Deere posted a quarterly beat with $2.42 EPS vs. $1.90 expected and revenue of $9.61 billion (up 17.5% YoY vs. ~$7.5B expected); analysts forecast about 18.01 EPS for the year.
• The company announced a quarterly dividend of $1.62 ($6.48 annual, ~1.2% yield; ex-dividend March 31, payable May 8), and the stock carries a consensus "Moderate Buy" with an average target near $655.45.

Anchyra Partners LLC purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,174 shares of the industrial products company's stock, valued at approximately $1,478,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Verdence Capital Advisors LLC increased its stake in Deere & Company by 2.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company's stock worth $360,000 after buying an additional 20 shares during the period. Bouchey Financial Group Ltd boosted its position in Deere & Company by 4.4% in the 3rd quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company's stock valued at $229,000 after buying an additional 21 shares during the period. Silvant Capital Management LLC grew its stake in shares of Deere & Company by 0.5% in the third quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company's stock worth $2,034,000 after acquiring an additional 21 shares in the last quarter. Blue Chip Partners LLC grew its stake in shares of Deere & Company by 1.4% in the second quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company's stock worth $801,000 after acquiring an additional 21 shares in the last quarter. Finally, Forefront Wealth Partners LLC increased its position in shares of Deere & Company by 4.1% during the third quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company's stock worth $258,000 after acquiring an additional 22 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 0.0%

NYSE:DE opened at $562.54 on Monday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The stock has a market cap of $151.95 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.96 and a beta of 0.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The stock has a 50-day simple moving average of $593.61 and a 200-day simple moving average of $526.56.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.52. The business had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business's quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the company earned $3.19 EPS. As a group, analysts anticipate that Deere & Company will post 18.01 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. Deere & Company's dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Argus boosted their target price on Deere & Company from $540.00 to $700.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Robert W. Baird cut their price target on Deere & Company from $675.00 to $580.00 and set a "neutral" rating on the stock in a report on Thursday, April 2nd. Barclays lifted their price objective on Deere & Company from $530.00 to $640.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Finally, Jefferies Financial Group raised Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $655.45.

Deere & 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.

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