SkyView Investment Advisors LLC Boosts Stock Position in Deere & Company (NYSE:DE)

SkyView Investment Advisors LLC grew its position in Deere & Company (NYSE:DE) by 6.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,098 shares of the industrial products company’s stock after purchasing an additional 68 shares during the period. SkyView Investment Advisors LLC’s holdings in Deere & Company were worth $458,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its position in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC boosted its stake in shares of Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after buying an additional 31,459 shares during the last quarter. FMR LLC grew its holdings in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after acquiring an additional 988,380 shares during the period. Legal & General Group Plc raised its position in Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Morgan Stanley raised their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Citigroup upped their price objective on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research report on Monday. Bank of America raised their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $443.28.

Deere & Company Stock Down 1.9 %

DE stock opened at $439.48 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm has a 50-day moving average of $419.35 and a two-hundred day moving average of $391.72. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The company has a market cap of $120.24 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.91 and a beta of 0.96.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter last year, the firm earned $8.26 earnings per share. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.47%. Deere & Company’s payout ratio is presently 22.97%.

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.