Callan Capital LLC Invests $211,000 in Deere & Company (NYSE:DE)

Callan Capital LLC bought a new position in Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 527 shares of the industrial products company’s stock, valued at approximately $211,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Essex Savings Bank grew its holdings in Deere & Company by 0.5% during the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after acquiring an additional 26 shares during the last quarter. Valley National Advisers Inc. lifted its position in Deere & Company by 1.5% during the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares during the period. Bleakley Financial Group LLC lifted its position in Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares during the period. Simplicity Solutions LLC lifted its position in Deere & Company by 0.5% during the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares during the period. Finally, SageView Advisory Group LLC lifted its position in Deere & Company by 2.4% during the 3rd quarter. SageView Advisory Group LLC now owns 1,201 shares of the industrial products company’s stock valued at $453,000 after purchasing an additional 28 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.2 %

Shares of DE traded down $0.73 during mid-day trading on Friday, hitting $393.33. 998,338 shares of the company’s stock were exchanged, compared to its average volume of 1,243,125. The company has a market cap of $109.49 billion, a PE ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company has a 50-day simple moving average of $387.86 and a 200 day simple moving average of $383.61. 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 for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same period last year, the business earned $6.55 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 27.37 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 Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio is presently 17.12%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Evercore ISI upped their target price on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley assumed coverage on shares of Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 target price on the stock. Citigroup cut their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Wells Fargo & Company cut their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.