Deere & Company (NYSE:DE) Shares Acquired by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC increased its stake in Deere & Company (NYSE:DE) by 8.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,456 shares of the industrial products company’s stock after acquiring an additional 332 shares during the period. SevenBridge Financial Group LLC’s holdings in Deere & Company were worth $1,794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after buying an additional 2,692 shares during the period. Chase Investment Counsel Corp lifted its stake in Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares during the last quarter. Balentine LLC acquired a new position in Deere & Company during the 3rd quarter worth approximately $710,000. Royal Fund Management LLC increased its position in shares of Deere & Company by 99.8% in the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 3,223 shares during the last quarter. Finally, New Century Financial Group LLC acquired a new stake in shares of Deere & Company in the 3rd quarter valued at $1,052,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 2.1 %

Deere & Company stock opened at $446.65 on Friday. The stock has a market capitalization of $122.20 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89. The stock has a 50 day moving average of $406.99 and a two-hundred day moving average of $386.36. Deere & Company has a twelve month low of $340.20 and a twelve month high of $447.50.

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

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Oppenheimer raised their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price 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. Morgan Stanley dropped their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, 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 report on Friday. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $431.61.

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.