Connable Office Inc. Acquires New Holdings in Deere & Company (NYSE:DE)

Connable Office Inc. acquired a new position in Deere & Company (NYSE:DE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,932 shares of the industrial products company’s stock, valued at approximately $2,058,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased 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 valued at $5,906,000 after purchasing an additional 2,692 shares during the period. Chase Investment Counsel Corp grew its holdings in Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares during the period. Balentine LLC bought a new stake in Deere & Company in the third quarter worth about $710,000. Royal Fund Management LLC lifted its holdings in Deere & Company by 99.8% in the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after acquiring an additional 3,223 shares during the last quarter. Finally, New Century Financial Group LLC bought a new position in shares of Deere & Company during the 3rd quarter valued at about $1,052,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Oppenheimer reduced their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Finally, Bank of America upped their price objective on shares of 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Up 1.3 %

DE stock opened at $394.68 on Friday. The company has a 50 day moving average of $403.47 and a two-hundred day moving average of $385.64. The company has a market cap of $107.98 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.48 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $10.94 billion. During the same period last year, the company earned $10.20 earnings per share. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a dividend of $1.47 per share. 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 dividend payout ratio is 20.06%.

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.