Pathway Financial Advisers LLC Has $356.60 Million Stock Holdings in Deere & Company (NYSE:DE)

Pathway Financial Advisers LLC boosted its stake in Deere & Company (NYSE:DE) by 53,338.6% during the third quarter, Holdings Channel reports. The institutional investor owned 854,484 shares of the industrial products company’s stock after buying an additional 852,885 shares during the period. Deere & Company comprises approximately 2.3% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 11th biggest position. Pathway Financial Advisers LLC’s holdings in Deere & Company were worth $356,602,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Arkadios Wealth Advisors increased its position in Deere & Company by 1.4% during the third quarter. Arkadios Wealth Advisors now owns 4,595 shares of the industrial products company’s stock worth $1,918,000 after acquiring an additional 65 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in shares of Deere & Company by 2.0% during the third quarter. NorthCrest Asset Manangement LLC now owns 50,252 shares of the industrial products company’s stock worth $20,971,000 after purchasing an additional 1,006 shares during the period. Forsta AP Fonden raised its position in shares of Deere & Company by 2.4% in the third quarter. Forsta AP Fonden now owns 68,100 shares of the industrial products company’s stock valued at $28,420,000 after buying an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Deere & Company by 52.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,581 shares of the industrial products company’s stock valued at $21,143,000 after buying an additional 17,346 shares during the period. Finally, Burford Brothers Inc. acquired a new stake in Deere & Company during the third quarter worth approximately $208,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 0.8 %

Shares of DE stock traded down $3.14 during trading hours on Friday, hitting $407.93. 591,048 shares of the company were exchanged, compared to its average volume of 1,453,785. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a 50 day simple moving average of $397.30 and a two-hundred day simple moving average of $385.56. The firm has a market cap of $112.41 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations 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 was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.20 EPS. Equities analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DE shares. BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Morgan Stanley cut their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Raymond James assumed coverage on shares of Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. Evercore ISI increased their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $420.69.

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.