Deere & Company (NYSE:DE) Shares Purchased by Segment Wealth Management LLC

Segment Wealth Management LLC lifted its holdings in Deere & Company (NYSE:DE) by 267.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,155 shares of the industrial products company’s stock after purchasing an additional 1,568 shares during the period. Segment Wealth Management LLC’s holdings in Deere & Company were worth $899,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DE. Oppenheimer Asset Management Inc. lifted its holdings in shares of Deere & Company by 20.5% during the second 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 last quarter. Aviance Capital Partners LLC purchased a new position in shares of Deere & Company in the first quarter worth approximately $2,783,000. Royal Fund Management LLC raised its holdings in shares of Deere & Company by 99.8% during the third 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 period. New Century Financial Group LLC purchased a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $1,052,000. Finally, Manning & Napier Advisors LLC acquired a new position in Deere & Company in the 2nd quarter worth approximately $24,984,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.1 %

Shares of DE opened at $406.65 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a market cap of $112.06 billion, a PE ratio of 12.24, a PEG ratio of 1.35 and a beta of 0.92. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The stock has a 50 day simple moving average of $395.40 and a 200-day simple moving average of $385.21.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period last year, the firm posted $10.20 EPS. On average, sell-side analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is presently 17.70%.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. Evercore ISI upped their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets started coverage on shares of 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. Finally, Morgan Stanley decreased their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $420.69.

About Deere & Company

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.