TB Alternative Assets Ltd. Takes Position in Deere & Company (NYSE:DE)

TB Alternative Assets Ltd. acquired a new stake in Deere & Company (NYSE:DE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,768 shares of the industrial products company's stock, valued at approximately $1,299,000.

A number of other institutional investors have also modified their holdings of DE. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after buying an additional 26 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at $39,000. Dogwood Wealth Management LLC acquired a new position in Deere & Company during the 4th quarter worth $42,000. Finally, Wood Tarver Financial Group LLC acquired a new position in Deere & Company during the 4th quarter worth $43,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 1.7%

Shares of NYSE DE opened at $519.62 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company has a market capitalization of $140.73 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The business has a 50-day moving average of $479.20 and a two-hundred day moving average of $466.37.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period in the previous year, the business earned $8.53 EPS. The business's quarterly revenue was down 17.9% on a year-over-year basis. On average, analysts forecast that Deere & Company will post 19.32 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 Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is currently 31.35%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DE shares. Bank of America boosted their target price on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Citigroup lowered their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets reissued a "market perform" rating and set a $460.00 target price (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $515.19.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.