Ferguson Wellman Capital Management Inc. Has $3.77 Million Position in Deere & Company (NYSE:DE)

by · The Markets Daily

Ferguson Wellman Capital Management Inc. raised its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 11.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,021 shares of the industrial products company’s stock after purchasing an additional 955 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Deere & Company were worth $3,765,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of DE. Pineridge Advisors LLC lifted its position in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Deere & Company in the second quarter valued at approximately $26,000. Olistico Wealth LLC bought a new position in shares of Deere & Company in the second quarter valued at approximately $37,000. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Deere & Company by 2,500.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock valued at $43,000 after buying an additional 100 shares during the last quarter. Finally, Centennial Bank AR grew its holdings in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE stock traded up $3.59 during midday trading on Friday, reaching $408.73. 749,969 shares of the company’s stock traded hands, compared to its average volume of 1,470,607. The firm has a market capitalization of $112.63 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a 50-day moving average price of $393.03 and a two-hundred day moving average price of $385.53. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (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 business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the prior year, the firm posted $10.20 EPS. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. Morgan Stanley dropped their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. BMO Capital Markets began coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective 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 boosted their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus price target of $420.69.

View Our Latest Research Report on Deere & Company

Deere & Company Company Profile

(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.

Further Reading

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