Trace Wealth Advisors LLC Makes New Investment in Deere & Company (NYSE:DE)

Trace Wealth Advisors LLC purchased a new position in Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,000 shares of the industrial products company's stock, valued at approximately $1,271,000. Deere & Company makes up approximately 1.1% of Trace Wealth Advisors LLC's holdings, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Compass Financial Services Inc bought a new position in Deere & Company in the 4th quarter worth $254,000. Banque Pictet & Cie SA boosted its holdings in shares of Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock valued at $33,165,000 after acquiring an additional 1,500 shares during the last quarter. Spectrum Financial Alliance Ltd LLC boosted its holdings in shares of Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock valued at $21,021,000 after acquiring an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $847,000. Finally, BankPlus Trust Department purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $1,127,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 3.0%

NYSE:DE opened at $531.79 on Friday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The company has a market cap of $144.34 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The stock has a fifty day simple moving average of $468.29 and a 200-day simple moving average of $454.67. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.22%. Deere & Company's payout ratio is 28.72%.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Robert W. Baird increased their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research note on Friday. Morgan Stanley increased their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Finally, Citigroup lowered their price objective on shares of Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of "Hold" and a consensus target price of $504.38.

About Deere & Company

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.

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