Cable Hill Partners LLC Purchases Shares of 512 Deere & Company (NYSE:DE)

Cable Hill Partners LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 512 shares of the industrial products company’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bell Bank raised its stake in Deere & Company by 2.1% in the 3rd quarter. Bell Bank now owns 2,346 shares of the industrial products company’s stock worth $979,000 after purchasing an additional 48 shares in the last quarter. Firetrail Investments PTY Ltd. bought a new stake in shares of Deere & Company in the third quarter valued at approximately $10,242,000. Main Street Financial Solutions LLC acquired a new stake in Deere & Company during the third quarter worth approximately $1,021,000. Kovack Advisors Inc. increased its stake in Deere & Company by 125.1% during the 3rd quarter. Kovack Advisors Inc. now owns 1,877 shares of the industrial products company’s stock worth $784,000 after acquiring an additional 1,043 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in Deere & Company by 1.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,009 shares of the industrial products company’s stock valued at $6,681,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on DE. Truist Financial boosted their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Evercore ISI raised 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 report on Monday, August 19th. Bank of America upped their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Oppenheimer cut their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Up 1.3 %

Shares of NYSE:DE opened at $394.68 on Friday. The stock’s 50-day moving average is $403.47 and its 200 day moving average is $385.64. The company has a market cap of $107.98 billion, a PE ratio of 13.47, a P/E/G ratio of 1.50 and a beta of 0.93. 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 has a 1 year low of $340.20 and a 1 year high of $420.47.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for 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%. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.20 earnings per share. Sell-side analysts anticipate that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.49%. Deere & Company’s payout ratio is currently 20.06%.

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.