Deere & Company (NYSE:DE) Position Increased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lifted its holdings in Deere & Company (NYSE:DE) by 0.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 290,245 shares of the industrial products company’s stock after purchasing an additional 866 shares during the period. AustralianSuper Pty Ltd’s holdings in Deere & Company were worth $121,128,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. HM Payson & Co. grew its stake in Deere & Company by 11.1% during the 3rd quarter. HM Payson & Co. now owns 4,077 shares of the industrial products company’s stock worth $1,701,000 after buying an additional 408 shares during the last quarter. Nikulski Financial Inc. boosted its holdings in shares of Deere & Company by 0.8% during the third quarter. Nikulski Financial Inc. now owns 8,012 shares of the industrial products company’s stock worth $3,344,000 after purchasing an additional 62 shares during the period. Financial Advocates Investment Management boosted its holdings in Deere & Company by 5.0% in the third quarter. Financial Advocates Investment Management now owns 3,826 shares of the industrial products company’s stock worth $1,597,000 after purchasing an additional 183 shares in the last quarter. Tandem Capital Management Corp ADV bought a new stake in shares of Deere & Company in the third quarter valued at approximately $1,288,000. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Deere & Company by 2.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after purchasing an additional 117 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DE. 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. 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 target on the stock. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Bank of America raised their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Trading Down 0.1 %

Shares of DE traded down $0.58 on Thursday, reaching $404.11. 155,866 shares of the company’s stock were exchanged, compared to its average volume of 1,438,126. The business has a 50 day moving average price of $399.90 and a two-hundred day moving average price of $385.36. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The stock has a market capitalization of $111.36 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating 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 company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the company posted $10.20 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 annualized dividend and a dividend yield of 1.46%. 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.