Ables Iannone Moore & Associates Inc. Boosts Stake in Deere & Company (NYSE:DE)

Ables Iannone Moore & Associates Inc. lifted its holdings in shares of Deere & Company (NYSE:DE) by 4.2% in the third quarter, HoldingsChannel.com reports. The firm owned 4,866 shares of the industrial products company’s stock after acquiring an additional 196 shares during the quarter. Deere & Company accounts for about 1.3% of Ables Iannone Moore & Associates Inc.’s investment portfolio, making the stock its 19th largest holding. Ables Iannone Moore & Associates Inc.’s holdings in Deere & Company were worth $2,030,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC purchased a new position in Deere & Company in the fourth quarter valued at $603,000. Rafferty Asset Management LLC boosted its stake in shares of Deere & Company by 3.6% in the 4th quarter. Rafferty Asset Management LLC now owns 22,466 shares of the industrial products company’s stock valued at $8,983,000 after buying an additional 774 shares during the period. First Trust Advisors LP grew its position in shares of Deere & Company by 22.3% during the fourth quarter. First Trust Advisors LP now owns 75,832 shares of the industrial products company’s stock worth $30,323,000 after buying an additional 13,833 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Deere & Company by 67.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 32,395 shares of the industrial products company’s stock worth $12,954,000 after buying an additional 13,106 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in Deere & Company by 5.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,838 shares of the industrial products company’s stock valued at $11,932,000 after acquiring an additional 1,424 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on DE. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Bank of America increased their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, Raymond James started coverage on Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $410.50.

Deere & Company Trading Up 0.0 %

NYSE DE opened at $416.49 on Thursday. The firm’s fifty day moving average is $382.11 and its two-hundred day moving average is $384.87. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market cap of $114.77 billion, a PE ratio of 12.54, a P/E/G ratio of 1.36 and a beta of 0.92.

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

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

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.