PSI Advisors LLC Boosts Stock Holdings in Deere & Company (NYSE:DE)

PSI Advisors LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 4.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,998 shares of the industrial products company’s stock after purchasing an additional 80 shares during the quarter. PSI Advisors LLC’s holdings in Deere & Company were worth $834,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Fairscale Capital LLC bought a new stake in shares of Deere & Company during the second quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter worth about $32,000. Olistico Wealth LLC purchased a new position in Deere & Company during the second quarter valued at approximately $37,000. Finally, Centennial Bank AR increased its holdings in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.5 %

NYSE:DE opened at $408.64 on Thursday. The company has a 50-day moving average price of $396.54 and a 200-day moving average price of $385.38. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. 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 $112.61 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.35 and a beta of 0.92.

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

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DE shares. Oppenheimer cut their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Citigroup boosted their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Twelve 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, the stock presently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Company Profile

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.