Altman Advisors Inc. Makes New $1.52 Million Investment in Deere & Company (NYSE:DE)

Altman Advisors Inc. acquired a new position in Deere & Company (NYSE:DE) in the third quarter, Holdings Channel reports. The fund acquired 3,650 shares of the industrial products company’s stock, valued at approximately $1,523,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in Deere & Company in the 3rd quarter worth about $47,000. Ontario Teachers Pension Plan Board boosted its stake in Deere & Company by 11.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 1,341,626 shares of the industrial products company’s stock valued at $559,901,000 after acquiring an additional 139,336 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Deere & Company by 4.1% in the third quarter. First Horizon Advisors Inc. now owns 3,344 shares of the industrial products company’s stock valued at $1,396,000 after acquiring an additional 131 shares during the last quarter. MWA Asset Management boosted its stake in Deere & Company by 1.6% in the third quarter. MWA Asset Management now owns 8,209 shares of the industrial products company’s stock valued at $3,426,000 after acquiring an additional 127 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in Deere & Company in the third quarter valued at about $5,120,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $404.47 on Wednesday. The company’s fifty day moving average price is $404.63 and its 200-day moving average price is $385.69. The firm has a market capitalization of $110.66 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.52 and a beta of 0.93. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Bank of America upped their price target 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. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Truist Financial upped their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI upped 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. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock 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.