Deere & Company (NYSE:DE) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. raised its position in shares of Deere & Company (NYSE:DE) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,355 shares of the industrial products company’s stock after buying an additional 117 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Deere & Company were worth $2,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the period. Royal Fund Management LLC raised its position in shares of Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after purchasing an additional 3,223 shares during the period. New Century Financial Group LLC acquired a new stake in Deere & Company in the 3rd quarter valued at approximately $1,052,000. Manning & Napier Advisors LLC acquired a new stake in Deere & Company in the 2nd quarter valued at approximately $24,984,000. Finally, Handelsbanken Fonder AB increased its position in Deere & Company by 2.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 90,871 shares of the industrial products company’s stock valued at $37,923,000 after acquiring an additional 1,963 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of NYSE DE opened at $400.42 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $109.55 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.35 and a beta of 0.92. The stock’s fifty day simple moving average is $400.85 and its 200 day simple moving average is $385.54. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings results 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. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the previous year, the company posted $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 forecast that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio is 20.06%.

Wall Street Analysts Forecast Growth

DE has been the topic of several analyst reports. Bank of America raised their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Oppenheimer lowered their target price 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. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Citigroup raised their target price 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, JPMorgan Chase & Co. raised their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.