Evanson Asset Management LLC Makes New $247,000 Investment in Deere & Company (NYSE:DE)

Evanson Asset Management LLC purchased a new position in shares of Deere & Company (NYSE:DE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 593 shares of the industrial products company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. Chapin Davis Inc. raised its holdings in Deere & Company by 5.2% during the third quarter. Chapin Davis Inc. now owns 1,828 shares of the industrial products company’s stock worth $763,000 after acquiring an additional 91 shares in the last quarter. Ignite Planners LLC bought a new position in Deere & Company in the third quarter valued at approximately $204,000. Fulton Bank N.A. increased its position in shares of Deere & Company by 6.5% during the 3rd quarter. Fulton Bank N.A. now owns 4,002 shares of the industrial products company’s stock worth $1,670,000 after purchasing an additional 246 shares during the last quarter. McLean Asset Management Corp bought a new stake in shares of Deere & Company during the 3rd quarter worth approximately $200,000. Finally, Value Partners Investments Inc. boosted its holdings in shares of Deere & Company by 71.4% in the 3rd quarter. Value Partners Investments Inc. now owns 1,174 shares of the industrial products company’s stock valued at $490,000 after buying an additional 489 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 1.4 %

Shares of DE stock opened at $400.34 on Wednesday. The stock has a market cap of $110.32 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a 50 day simple moving average of $383.66 and a 200 day simple moving average of $385.15.

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

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DE. Raymond James initiated coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Truist Financial reaffirmed a “buy” rating and issued a $443.00 price objective (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Finally, BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned 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 $410.50.

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.