3Chopt Investment Partners LLC Buys New Position in Deere & Company (NYSE:DE)

3Chopt Investment Partners LLC bought a new stake in shares of Deere & Company (NYSE:DE) in the 2nd quarter, Holdings Channel.com reports. The firm bought 2,333 shares of the industrial products company’s stock, valued at approximately $875,000.

Several other large investors have also bought and sold shares of DE. True Wealth Design LLC boosted its position in shares of Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares during the period. Fairscale Capital LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at $26,000. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 4th quarter valued at $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of Deere & Company in the 4th quarter valued at $33,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.2 %

DE opened at $417.33 on Tuesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $419.63. The business has a 50-day moving average of $380.26 and a 200-day moving average of $384.41. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The company has a market capitalization of $115.00 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the business earned $10.20 EPS. The firm’s revenue was down 20.3% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent analyst reports. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Bank of America increased their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Raymond James started coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. Citigroup reduced their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, Evercore ISI increased their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average price target of $410.50.

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.