CogentBlue Wealth Advisors LLC Invests $226,000 in Deere & Company (NYSE:DE)

CogentBlue Wealth Advisors LLC bought a new stake in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 534 shares of the industrial products company’s stock, valued at approximately $226,000.

A number of other large investors also recently added to or reduced their stakes in the business. Everence Capital Management Inc. grew its position in shares of Deere & Company by 148.3% in the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after buying an additional 7,300 shares during the last quarter. Stockbridge Partners LLC lifted its stake in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the period. Compass Financial Services Inc bought a new stake in Deere & Company in the fourth quarter valued at $254,000. Toronto Dominion Bank increased its position in Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after purchasing an additional 1,291 shares during the period. Finally, Chase Investment Counsel Corp raised its holdings in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Oppenheimer upped their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. UBS Group boosted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Citigroup lifted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average price target of $454.65.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $509.54 on Thursday. The company has a market capitalization of $138.77 billion, a P/E ratio of 22.59, a P/E/G ratio of 2.96 and a beta of 0.98. 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 firm’s 50 day simple moving average is $449.95 and its two-hundred day simple moving average is $419.37. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Research analysts expect that Deere & Company will post 19.35 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 28.72%.

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.