Pictet North America Advisors SA Invests $209,000 in Deere & Company (NYSE:DE)

Pictet North America Advisors SA acquired a new stake in shares of Deere & Company (NYSE:DE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 500 shares of the industrial products company’s stock, valued at approximately $209,000.

Other large investors also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new position in shares of Deere & Company in the 2nd quarter worth $26,000. Pineridge Advisors LLC boosted its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the 3rd quarter valued at about $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company during the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR lifted its stake in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Down 0.1 %

Shares of DE stock opened at $406.65 on Wednesday. The stock’s 50-day moving average price is $395.40 and its 200-day moving average price is $385.21. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The stock has a market capitalization of $112.06 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth 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.

Deere & Company (NYSE:DE) last posted its 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. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 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 20.3% compared to the same quarter last year. During the same period last year, the firm posted $10.20 earnings per share. Equities research analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DE shares. Raymond James initiated coverage on shares of Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target on the stock. JPMorgan Chase & Co. raised their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Morgan Stanley cut their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Oppenheimer decreased their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $420.69.

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.