Fort Pitt Capital Group LLC Buys 2,845 Shares of Deere & Company (NYSE:DE)

Fort Pitt Capital Group LLC raised its stake in Deere & Company (NYSE:DE) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 181,636 shares of the industrial products company’s stock after buying an additional 2,845 shares during the period. Deere & Company comprises about 2.1% of Fort Pitt Capital Group LLC’s portfolio, making the stock its 23rd biggest position. Fort Pitt Capital Group LLC owned 0.07% of Deere & Company worth $75,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC lifted its holdings in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after buying an additional 852,885 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares during the period. Swedbank AB acquired a new position in shares of Deere & Company in the 1st quarter valued at about $191,628,000. Mawer Investment Management Ltd. bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $166,937,000. Finally, Dimensional Fund Advisors LP grew its stake in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Citigroup increased their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI lifted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Oppenheimer reduced their target price on 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 analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Down 1.1 %

Shares of NYSE:DE opened at $400.42 on Friday. The business’s 50 day moving average is $400.85 and its 200 day moving average is $385.49. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The stock has a market cap of $109.55 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.35 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted 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 firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.20 EPS. On average, sell-side analysts forecast that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Deere & Company 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.