Starfire Investment Advisers Inc. bought a new position in Deere & Company (NYSE:DE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,364 shares of the industrial products company’s stock, valued at approximately $205,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Kaizen Advisory LLC lifted 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 during the last quarter. Amussen Hunsaker Associates LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $122,000. Sun Life Financial INC lifted its holdings in shares of Deere & Company by 283.8% in the 2nd quarter. Sun Life Financial INC now owns 879 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 650 shares during the last quarter. Psagot Investment House Ltd. bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $130,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of Deere & Company in the 3rd quarter worth approximately $141,000. Institutional investors own 66.47% of the company’s stock.
DE opened at $144.81 on Friday. Deere & Company has a one year low of $128.32 and a one year high of $175.26. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.66 and a current ratio of 1.91. The firm has a market capitalization of $47.75 billion, a PE ratio of 17.24, a PEG ratio of 2.26 and a beta of 0.97.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, August 17th. The industrial products company reported $2.59 EPS for the quarter, missing the Zacks’ consensus estimate of $2.75 by ($0.16). Deere & Company had a return on equity of 28.51% and a net margin of 5.82%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.18 billion. During the same period in the prior year, the firm posted $1.97 EPS. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 9.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Friday, September 28th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, September 27th. Deere & Company’s dividend payout ratio is presently 41.32%.
Several analysts have weighed in on the company. Deutsche Bank set a $155.00 target price on Deere & Company and gave the company a “hold” rating in a research note on Wednesday, September 5th. Wells Fargo & Co cut their target price on Deere & Company from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 20th. JPMorgan Chase & Co. set a $145.00 target price on Deere & Company and gave the company a “hold” rating in a research note on Monday, August 13th. Credit Suisse Group cut their target price on Deere & Company from $231.00 to $221.00 and set an “outperform” rating on the stock in a research note on Monday, August 20th. Finally, Goldman Sachs Group downgraded Deere & Company from a “conviction-buy” rating to a “buy” rating in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $177.75.
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Deere & Company 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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