Allied Investment Advisors LLC Buys 355 Shares of Deere & Company (NYSE:DE)

Allied Investment Advisors LLC boosted its stake in Deere & Company (NYSE:DE) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,131 shares of the industrial products company’s stock after purchasing an additional 355 shares during the quarter. Deere & Company makes up 2.2% of Allied Investment Advisors LLC’s investment portfolio, making the stock its 20th largest position. Allied Investment Advisors LLC’s holdings in Deere & Company were worth $10,905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. True Wealth Design LLC grew its position in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares in the last quarter. Fairscale Capital LLC purchased a new stake in Deere & Company in the second quarter valued at approximately $26,000. Pineridge Advisors LLC lifted its position in Deere & Company by 725.0% during the first 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 last quarter. Livelsberger Financial Advisory purchased a new position in Deere & Company in the 4th quarter worth approximately $30,000. Finally, Spartan Planning & Wealth Management bought a new position in shares of Deere & Company in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Citigroup dropped their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Bank of America upped their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $410.50.

Deere & Company Stock Performance

Shares of NYSE DE traded down $0.75 during midday trading on Friday, reaching $407.99. The company had a trading volume of 877,896 shares, compared to its average volume of 1,501,564. The stock has a market cap of $112.43 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The business’s 50-day simple moving average is $383.08 and its 200 day simple moving average is $385.19.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the company earned $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. On average, analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. Deere & Company’s payout ratio is 17.70%.

About Deere & Company

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.