49 Wealth Management LLC Takes $924,000 Position in Deere & Company (NYSE:DE)

49 Wealth Management LLC bought a new position in Deere & Company (NYSE:DE) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 2,213 shares of the industrial products company’s stock, valued at approximately $924,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Smithfield Trust Co boosted its holdings in shares of Deere & Company by 3.2% during the 3rd quarter. Smithfield Trust Co now owns 4,866 shares of the industrial products company’s stock worth $2,030,000 after buying an additional 150 shares during the period. Pacer Advisors Inc. boosted its holdings in Deere & Company by 2.3% during the third quarter. Pacer Advisors Inc. now owns 18,998 shares of the industrial products company’s stock valued at $7,928,000 after acquiring an additional 425 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in shares of Deere & Company by 435.2% in the third quarter. Thompson Siegel & Walmsley LLC now owns 15,108 shares of the industrial products company’s stock worth $6,305,000 after purchasing an additional 12,285 shares during the period. Tradewinds LLC. raised its stake in Deere & Company by 5.8% during the 3rd quarter. Tradewinds LLC. now owns 14,814 shares of the industrial products company’s stock valued at $6,182,000 after purchasing an additional 813 shares during the last quarter. Finally, SSI Investment Management LLC bought a new stake in Deere & Company in the 3rd quarter valued at $200,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Evercore ISI boosted their target price 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. Bank of America increased their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Up 7.7 %

Shares of Deere & Company stock opened at $436.28 on Friday. The business has a fifty day simple moving average of $405.95 and a 200 day simple moving average of $386.18. The stock has a market cap of $119.37 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.54 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 has a 12 month low of $340.20 and a 12 month high of $442.05.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period last year, the company posted $8.26 EPS. Research analysts predict that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders 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 1.35%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

About Deere & Company

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.