XXEC Inc. Acquires 6,001 Shares of Deere & Company (NYSE:DE)

XXEC Inc. lifted its holdings in Deere & Company (NYSE:DE) by 55.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,838 shares of the industrial products company’s stock after buying an additional 6,001 shares during the quarter. Deere & Company makes up about 5.3% of XXEC Inc.’s holdings, making the stock its 9th largest holding. XXEC Inc.’s holdings in Deere & Company were worth $7,027,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Pathway Financial Advisers LLC boosted its position in Deere & Company by 53,338.6% during 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 purchasing an additional 852,885 shares during the last quarter. International Assets Investment Management LLC boosted its holdings 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 buying an additional 770,451 shares during the last quarter. Swedbank AB bought a new position in shares of Deere & Company in the first quarter valued at $191,628,000. Mawer Investment Management Ltd. bought a new position in shares of Deere & Company in the second quarter valued at $166,937,000. Finally, Dimensional Fund Advisors LP increased its holdings 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 buying an additional 279,627 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 2.2 %

DE stock opened at $402.65 on Tuesday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a market capitalization of $110.17 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The company’s 50-day simple moving average is $403.35 and its 200 day simple moving average is $385.61. 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 (NYSE:DE) last posted 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 business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. During the same quarter in the previous year, the firm earned $10.20 earnings per share. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.46%. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. BMO Capital Markets started 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 for the company. Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Oppenheimer lowered their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Citigroup raised their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $420.69.

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.