Pacer Advisors Inc. Acquires 425 Shares of Deere & Company (NYSE:DE)

Pacer Advisors Inc. grew its holdings in shares of Deere & Company (NYSE:DE) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,998 shares of the industrial products company’s stock after buying an additional 425 shares during the period. Pacer Advisors Inc.’s holdings in Deere & Company were worth $7,928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. 1832 Asset Management L.P. lifted its position in shares of Deere & Company by 67.3% in the 1st quarter. 1832 Asset Management L.P. now owns 3,313 shares of the industrial products company’s stock worth $1,361,000 after purchasing an additional 1,333 shares during the period. BOKF NA boosted its position in Deere & Company by 3.2% during the 1st quarter. BOKF NA now owns 10,316 shares of the industrial products company’s stock valued at $4,169,000 after acquiring an additional 320 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Deere & Company by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock worth $603,854,000 after acquiring an additional 114,116 shares during the period. Mount Yale Investment Advisors LLC raised its position in shares of Deere & Company by 43.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,965 shares of the industrial products company’s stock worth $807,000 after acquiring an additional 592 shares in the last quarter. Finally, Transcendent Capital Group LLC lifted its stake in shares of Deere & Company by 673.1% in the 1st quarter. Transcendent Capital Group LLC now owns 201 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 175 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DE. Morgan Stanley reduced their price target 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. Evercore ISI upped their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Barclays lifted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $431.61.

Deere & Company Stock Performance

Shares of NYSE DE opened at $446.65 on Friday. The firm’s 50-day moving average price is $406.99 and its 200-day moving average price is $386.36. Deere & Company has a 52-week low of $340.20 and a 52-week high of $447.50. The company has a market cap of $122.20 billion, a PE ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.90 by $0.65. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the company posted $8.26 earnings per share. As a group, analysts anticipate that Deere & Company will post 21.41 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is 22.97%.

Deere & 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.