Kovack Advisors Inc. Acquires 1,043 Shares of Deere & Company (NYSE:DE)

Kovack Advisors Inc. increased its holdings in shares of Deere & Company (NYSE:DE) by 125.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,877 shares of the industrial products company’s stock after purchasing an additional 1,043 shares during the period. Kovack Advisors Inc.’s holdings in Deere & Company were worth $784,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC increased its holdings 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 worth $27,000 after purchasing an additional 58 shares during the period. Fairscale Capital LLC bought a new position in Deere & Company during the second quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the 3rd quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new position in Deere & Company in the 2nd quarter valued at approximately $37,000. Finally, Centennial Bank AR raised its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. BMO Capital Markets began coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Bank of America raised their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Evercore ISI boosted their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Price Performance

NYSE DE opened at $389.45 on Thursday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The firm’s 50 day moving average is $403.52 and its 200-day moving average is $385.61. The company has a market capitalization of $106.55 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the business posted $10.20 EPS. The company’s quarterly revenue was down 20.3% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.51%. Deere & Company’s dividend payout ratio is 20.06%.

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.