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Osprey Private Wealth LLC Makes New $1.14 Million Investment in Deere & Company $DE

Deere & Company logo with Industrials background
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Key Points

  • Osprey Private Wealth LLC opened a new position in Deere & Company during the fourth quarter, buying 2,450 shares valued at about $1.14 million.
  • Deere’s latest quarterly results were strong, with EPS of $2.42 beating estimates and revenue of $9.61 billion topping forecasts; revenue also rose 17.5% year over year.
  • Wall Street remains constructive on the stock, with multiple analysts raising price targets and Deere currently carrying a Moderate Buy consensus and an average target of $655.45.
  • Five stocks we like better than Deere & Company.

Osprey Private Wealth LLC bought a new position in Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,450 shares of the industrial products company's stock, valued at approximately $1,141,000.

Several other hedge funds also recently bought and sold shares of the company. Income Insurance Ltd acquired a new stake in Deere & Company in the fourth quarter worth $357,000. Nwam LLC increased its position in shares of Deere & Company by 2.8% during the fourth quarter. Nwam LLC now owns 1,154 shares of the industrial products company's stock worth $580,000 after acquiring an additional 31 shares in the last quarter. Altman Advisors Inc. increased its position in shares of Deere & Company by 0.6% during the fourth quarter. Altman Advisors Inc. now owns 3,915 shares of the industrial products company's stock worth $1,823,000 after acquiring an additional 22 shares in the last quarter. D Orazio & Associates Inc. bought a new stake in shares of Deere & Company during the fourth quarter worth $203,000. Finally, Advisor OS LLC increased its position in shares of Deere & Company by 4.8% during the fourth quarter. Advisor OS LLC now owns 2,097 shares of the industrial products company's stock worth $977,000 after acquiring an additional 96 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $574.70 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The company has a 50-day simple moving average of $586.28 and a two-hundred day simple moving average of $532.75. The stock has a market capitalization of $155.23 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96.

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

Deere & Company Dividend Announcement

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

Deere & Company News Summary

Here are the key news stories impacting Deere & Company this week:

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DE shares. Sanford C. Bernstein increased their price objective on shares of Deere & Company from $521.00 to $615.00 and gave the stock a "market perform" rating in a research report on Friday, February 20th. Royal Bank Of Canada increased their price objective on shares of Deere & Company from $541.00 to $736.00 and gave the stock an "outperform" rating in a research report on Friday, February 20th. Morgan Stanley increased their price objective on shares of Deere & Company from $560.00 to $730.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Oppenheimer reissued an "outperform" rating and set a $715.00 price objective on shares of Deere & Company in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $525.00 to $550.00 and gave the stock a "neutral" rating in a research report on Friday, April 10th. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Deere & Company presently has an average rating of "Moderate Buy" and a consensus price target of $655.45.

Read Our Latest Research Report on Deere & Company

About Deere & Company

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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