InterOcean Capital Group LLC Acquires 259 Shares of Deere & Company (NYSE:DE)

InterOcean Capital Group LLC raised its holdings in Deere & Company (NYSE:DE) by 10.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,689 shares of the industrial products company’s stock after acquiring an additional 259 shares during the quarter. InterOcean Capital Group LLC’s holdings in Deere & Company were worth $1,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of DE. Briaud Financial Planning Inc purchased a new stake in shares of Deere & Company during the 3rd quarter worth $25,000. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $28,000. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company during the 4th quarter worth $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $29,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Daiwa Capital Markets increased their price target on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. DA Davidson decreased their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday. Oppenheimer reiterated an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. Finally, Wells Fargo & Company decreased their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $432.92.

Deere & Company Price Performance

DE traded down $5.33 during trading on Thursday, hitting $380.68. The company’s stock had a trading volume of 488,448 shares, compared to its average volume of 1,461,765. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The business’s fifty day simple moving average is $399.95 and its 200 day simple moving average is $386.47. The firm has a market capitalization of $105.97 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 1.53 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same period last year, the company earned $9.65 earnings per share. Deere & Company’s quarterly revenue was down 15.4% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 26.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Wednesday, March 27th. Deere & Company’s payout ratio is currently 17.70%.

About Deere & Company

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.