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

Greater Midwest Financial Group LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,061 shares of the industrial products company’s stock after purchasing an additional 66 shares during the period. Deere & Company comprises approximately 1.5% of Greater Midwest Financial Group LLC’s holdings, making the stock its 19th biggest holding. Greater Midwest Financial Group LLC’s holdings in Deere & Company were worth $2,529,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Centaurus Financial Inc. lifted its stake in shares of Deere & Company by 2.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. boosted its stake in Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after buying an additional 26 shares during the last quarter. Field & Main Bank grew its holdings in Deere & Company by 0.7% in the 1st quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock valued at $1,663,000 after buying an additional 27 shares during the period. Range Financial Group LLC lifted its holdings in shares of Deere & Company by 5.2% during the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 27 shares during the period. Finally, Cooper Financial Group boosted its position in shares of Deere & Company by 2.4% in the first quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock worth $471,000 after acquiring an additional 27 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DE. Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Citigroup boosted their price target on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Raymond James began coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective on the stock. Bank of America increased their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

NYSE:DE traded down $3.56 during midday trading on Thursday, reaching $405.81. 64,009 shares of the company traded hands, compared to its average volume of 1,467,553. The firm has a market capitalization of $111.83 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a fifty day moving average price of $390.66 and a 200 day moving average price of $385.36. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47.

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

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

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.