DLK Investment Management LLC Acquires 330 Shares of Deere & Company (NYSE:DE)

DLK Investment Management LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,188 shares of the industrial products company’s stock after acquiring an additional 330 shares during the period. DLK Investment Management LLC’s holdings in Deere & Company were worth $3,417,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Fairscale Capital LLC bought a new stake in Deere & Company during the second quarter worth about $26,000. Pineridge Advisors LLC raised its holdings in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the fourth quarter valued at about $30,000. Spartan Planning & Wealth Management bought a new stake in shares of Deere & Company during the fourth quarter worth about $33,000. Finally, Olistico Wealth LLC acquired a new position in Deere & Company during the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DE. Oppenheimer reduced their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Morgan Stanley reduced their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Trading Up 1.5 %

Shares of NYSE DE traded up $5.94 during mid-day trading on Friday, hitting $411.70. The company’s stock had a trading volume of 200,450 shares, compared to its average volume of 1,481,029. The company’s fifty day simple moving average is $385.86 and its 200-day simple moving average is $385.44. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The stock has a market cap of $112.64 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm posted $10.20 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s payout ratio is 20.06%.

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.