Great Lakes Retirement Inc. Buys 350 Shares of Deere & Company (NYSE:DE)

Great Lakes Retirement Inc. lifted its stake in Deere & Company (NYSE:DE) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,531 shares of the industrial products company’s stock after buying an additional 350 shares during the period. Great Lakes Retirement Inc.’s holdings in Deere & Company were worth $2,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of DE. International Assets Investment Management LLC boosted its position in Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares in the last quarter. Heartland Bank & Trust Co raised its stake in shares of Deere & Company by 7.0% in the third quarter. Heartland Bank & Trust Co now owns 1,653 shares of the industrial products company’s stock valued at $690,000 after acquiring an additional 108 shares during the last quarter. Wallington Asset Management LLC boosted its holdings in shares of Deere & Company by 2.1% in the 3rd quarter. Wallington Asset Management LLC now owns 26,553 shares of the industrial products company’s stock worth $11,081,000 after acquiring an additional 553 shares in the last quarter. Sterling Investment Counsel LLC grew its position in Deere & Company by 4.4% during the 3rd quarter. Sterling Investment Counsel LLC now owns 1,261 shares of the industrial products company’s stock worth $526,000 after acquiring an additional 53 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its holdings in Deere & Company by 54.5% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 30,470 shares of the industrial products company’s stock valued at $12,716,000 after purchasing an additional 10,748 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of a number of recent analyst reports. Oppenheimer reduced 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. Bank of America increased their price objective 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Citigroup increased their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Performance

Shares of DE stock opened at $408.64 on Thursday. The stock has a market cap of $112.61 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The stock has a 50-day moving average of $396.54 and a 200-day moving average of $385.38. 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 one year low of $340.20 and a one year high of $420.47.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.20 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is presently 17.70%.

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.