Confluence Wealth Services Inc. Has $888,000 Stock Holdings in Deere & Company (NYSE:DE)

Confluence Wealth Services Inc. increased its position in Deere & Company (NYSE:DE) by 3.9% in the third quarter, Holdings Channel.com reports. The firm owned 2,129 shares of the industrial products company’s stock after acquiring an additional 80 shares during the period. Confluence Wealth Services Inc.’s holdings in Deere & Company were worth $888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mutual Advisors LLC raised its holdings in Deere & Company by 7.7% in the first quarter. Mutual Advisors LLC now owns 6,148 shares of the industrial products company’s stock worth $2,525,000 after purchasing an additional 441 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Deere & Company by 0.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 10,113 shares of the industrial products company’s stock valued at $4,154,000 after acquiring an additional 77 shares during the period. Pictet North America Advisors SA acquired a new stake in shares of Deere & Company during the first quarter worth about $205,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in Deere & Company by 19.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,052 shares of the industrial products company’s stock worth $4,539,000 after purchasing an additional 1,823 shares in the last quarter. Finally, Easterly Investment Partners LLC acquired a new position in shares of Deere & Company in the first quarter valued at approximately $201,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 1.1 %

Shares of NYSE:DE opened at $400.42 on Monday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The business has a 50 day moving average of $400.85 and a 200-day moving average of $385.41. 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 stock has a market cap of $109.55 billion, a PE ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter last year, the business earned $10.20 EPS. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, equities research analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed 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. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

Analyst Ratings Changes

A number of equities analysts have issued reports on DE shares. Bank of America increased their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Evercore ISI raised 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 note on Monday, August 19th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $420.69.

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.