Tennessee Valley Asset Management Partners Acquires Shares of 500 Deere & Company (NYSE:DE)

Tennessee Valley Asset Management Partners acquired a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 500 shares of the industrial products company’s stock, valued at approximately $200,000.

Other hedge funds have also recently bought and sold shares of the company. Pinnacle Associates Ltd. boosted its position in Deere & Company by 21.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after buying an additional 939 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Deere & Company by 2.4% in the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after purchasing an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Deere & Company by 6.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after purchasing an additional 900 shares during the last quarter. Centric Wealth Management bought a new position in shares of Deere & Company in the 3rd quarter worth $2,640,000. Finally, Graham Capital Management L.P. boosted its position in shares of Deere & Company by 483.3% in the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after purchasing an additional 14,500 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

DE opened at $400.32 on Monday. The business’s 50-day moving average price is $385.86 and its two-hundred day moving average price is $383.09. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company has a market capitalization of $111.43 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.55 earnings per share. Equities analysts expect that Deere & Company will post 27.4 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Analysts Set New Price Targets

DE has been the topic of several recent research reports. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Morgan Stanley initiated coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target on the stock. Stifel Nicolaus reduced their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. raised their price objective on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.