Means Investment CO. Inc. Grows Stock Position in Deere & Company (NYSE:DE)

by · The Cerbat Gem

Means Investment CO. Inc. lifted its stake in Deere & Company (NYSE:DE – Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,157 shares of the industrial products company’s stock after buying an additional 49 shares during the period. Means Investment CO. Inc.’s holdings in Deere & Company were worth $1,317,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. increased its holdings in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after buying an additional 2,692 shares during the period. Harbor Investment Advisory LLC increased its holdings in Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after purchasing an additional 372 shares during the period. Aviance Capital Partners LLC purchased a new position in Deere & Company during the 1st quarter valued at about $2,783,000. Range Financial Group LLC increased its holdings in Deere & Company by 5.2% during the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 27 shares during the period. Finally, Royal Fund Management LLC increased its holdings in Deere & Company by 99.8% during 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 purchasing an additional 3,223 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DE shares. Citigroup boosted their price target on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Raymond James started coverage on Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target on the stock. Finally, BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $420.69.

Read Our Latest Stock Analysis on DE

Deere & Company Stock Performance

Shares of DE opened at $408.73 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The business’s 50 day moving average price is $393.03 and its 200-day moving average price is $385.40. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The stock has a market cap of $112.63 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm posted $10.20 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. Deere & Company’s payout ratio is currently 17.70%.

About Deere & Company

(Free Report)

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.

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