CORDA Investment Management LLC. decreased its holdings in Deere & Company (NYSE:DE) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,805 shares of the industrial products company’s stock after selling 3,187 shares during the period. Deere & Company comprises about 3.1% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 10th biggest holding. CORDA Investment Management LLC. owned 0.05% of Deere & Company worth $26,278,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of DE. Kaizen Advisory LLC increased its holdings in shares of Deere & Company by 158.4% in the 2nd quarter. Kaizen Advisory LLC now owns 796 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 488 shares in the last quarter. Amussen Hunsaker Associates LLC bought a new stake in shares of Deere & Company in the second quarter worth $122,000. Sun Life Financial INC grew its holdings in shares of Deere & Company by 283.8% in the second quarter. Sun Life Financial INC now owns 879 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 650 shares during the period. Psagot Investment House Ltd. bought a new stake in shares of Deere & Company in the second quarter worth $130,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of Deere & Company in the third quarter worth $141,000. 66.47% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on DE. Stifel Nicolaus cut their price objective on Deere & Company from $193.00 to $190.00 and set a “buy” rating for the company in a report on Monday, August 20th. JPMorgan Chase & Co. set a $145.00 price objective on Deere & Company and gave the stock a “hold” rating in a report on Monday, August 13th. Wells Fargo & Co cut their price objective on Deere & Company from $190.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 20th. OTR Global lowered Deere & Company to a “$139.21” rating in a report on Wednesday, July 18th. Finally, Credit Suisse Group cut their price objective on Deere & Company from $231.00 to $221.00 and set an “outperform” rating for the company in a report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. Deere & Company has a consensus rating of “Buy” and a consensus price target of $177.75.
NYSE DE opened at $146.67 on Friday. The firm has a market cap of $46.79 billion, a P/E ratio of 21.96, a P/E/G ratio of 2.22 and a beta of 0.97. The company has a current ratio of 1.91, a quick ratio of 1.66 and a debt-to-equity ratio of 2.59. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $175.26.
Deere & Company (NYSE:DE) last released its earnings results on Friday, August 17th. The industrial products company reported $2.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.75 by ($0.16). The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.18 billion. Deere & Company had a net margin of 5.82% and a return on equity of 28.51%. Deere & Company’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.97 earnings per share. On average, equities research analysts anticipate that Deere & Company will post 9.51 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Friday, September 28th were given a dividend of $0.69 per share. The ex-dividend date was Thursday, September 27th. This represents a $2.76 annualized dividend and a yield of 1.88%. Deere & Company’s dividend payout ratio (DPR) is presently 41.32%.
Deere & Company Profile
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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