Blue Capital Inc. Makes New $11.13 Million Investment in Deere & Company $DE

by · The Markets Daily

Blue Capital Inc. bought a new stake in Deere & Company (NYSE:DEFree Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,893 shares of the industrial products company’s stock, valued at approximately $11,132,000. Deere & Company accounts for about 7.9% of Blue Capital Inc.’s holdings, making the stock its largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OLD National Bancorp IN lifted its stake in Deere & Company by 2.6% in the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after buying an additional 610 shares during the period. Providence Capital Advisors LLC increased its stake in shares of Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after acquiring an additional 303 shares during the last quarter. Bragg Financial Advisors Inc raised its position in shares of Deere & Company by 12.7% in the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after acquiring an additional 813 shares during the period. United Asset Strategies Inc. acquired a new stake in shares of Deere & Company in the 1st quarter valued at approximately $2,496,000. Finally, Mesirow Financial Investment Management Inc. boosted its stake in Deere & Company by 1.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 4,678 shares of the industrial products company’s stock worth $2,379,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE opened at $485.35 on Friday. The company has a market capitalization of $131.20 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 1.79 and a beta of 1.00. The business’s 50-day moving average price is $469.02 and its two-hundred day moving average price is $487.70. Deere & Company has a 1 year low of $403.01 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01.

Deere & Company (NYSE:DEGet Free Report) last posted its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter in the previous year, the business posted $4.55 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

Insider Activity

In other news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of Deere & Company in a research note on Thursday, November 13th. They issued an “overweight” rating and a $543.00 target price for the company. Zacks Research raised Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Deere & Company in a report on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $560.00 price target on shares of Deere & Company in a report on Tuesday. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $460.00 price target on shares of Deere & Company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $523.70.

Read Our Latest Research Report on DE

Deere & Company Profile

(Free Report)

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.

See Also

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