Americana Partners LLC Boosts Stake in Deere & Company (NYSE:DE)

Americana Partners LLC boosted its stake in Deere & Company (NYSE:DE) by 2.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,980 shares of the industrial products company’s stock after buying an additional 48 shares during the quarter. Americana Partners LLC’s holdings in Deere & Company were worth $826,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Fairscale Capital LLC acquired a new position in Deere & Company in the 2nd quarter valued at $26,000. Pineridge Advisors LLC raised its holdings in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in Deere & Company in the 3rd quarter valued at $32,000. Olistico Wealth LLC acquired a new position in Deere & Company in the 2nd quarter valued at $37,000. Finally, Centennial Bank AR raised its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 1.1 %

Shares of NYSE DE opened at $400.42 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a market cap of $109.55 billion, a P/E ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a fifty day moving average price of $400.85 and a 200 day moving average price of $385.54.

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, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the prior year, the company posted $10.20 EPS. Research analysts anticipate that Deere & Company will post 25 EPS 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. Deere & Company’s payout ratio is currently 20.06%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DE. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Bank of America upped their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Oppenheimer dropped their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Finally, Evercore ISI upped their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus 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.