Texas Bank & Trust Co Invests $856,000 in Deere & Company (NYSE:DE)

Texas Bank & Trust Co acquired a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,021 shares of the industrial products company’s stock, valued at approximately $856,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 22 shares during the period. DLK Investment Management LLC boosted its stake in shares of Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after buying an additional 24 shares during the period. Quent Capital LLC grew its holdings in shares of Deere & Company by 2.8% during the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after acquiring an additional 24 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after acquiring an additional 24 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its holdings in shares of Deere & Company by 1.2% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 2,115 shares of the industrial products company’s stock worth $896,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the 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 transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Up 3.0%

Shares of DE stock opened at $531.79 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $533.78. 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 stock has a fifty day moving average price of $468.29 and a 200 day moving average price of $454.67. The stock has a market cap of $144.34 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DE. Bank of America raised their price target on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a report on Friday. Oppenheimer boosted their price target on Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday. Evercore ISI increased their price objective on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, StockNews.com raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $504.38.

Deere & Company 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.