Northwest Investment Counselors LLC Has $253,000 Stake in Deere & Company (NYSE:DE)

Northwest Investment Counselors LLC raised its stake in Deere & Company (NYSE:DE) by 10.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 607 shares of the industrial products company’s stock after buying an additional 58 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Deere & Company were worth $253,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Centaurus Financial Inc. grew its position in Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 26 shares in the last quarter. Cornell Pochily Investment Advisors Inc. boosted its stake in shares of Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after buying an additional 26 shares during the last quarter. Cooper Financial Group grew its holdings in shares of Deere & Company by 2.4% in the first quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 27 shares in the last quarter. Range Financial Group LLC increased its position in shares of Deere & Company by 5.2% during the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 27 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in Deere & Company by 0.9% during the third quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock worth $1,293,000 after acquiring an additional 27 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Finally, Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

NYSE:DE traded down $0.02 during mid-day trading on Monday, hitting $408.71. 396,501 shares of the stock traded hands, compared to its average volume of 1,465,219. The business’s 50-day moving average price is $393.03 and its 200 day moving average price is $385.26. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $112.63 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47.

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

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. Deere & Company’s dividend payout ratio is currently 17.70%.

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.