Deere & Company (NYSE:DE) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its stake in shares of Deere & Company (NYSE:DE) by 15.0% during the third quarter, HoldingsChannel.com reports. The firm owned 1,184 shares of the industrial products company’s stock after purchasing an additional 154 shares during the period. Verdence Capital Advisors LLC’s holdings in Deere & Company were worth $494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after purchasing an additional 2,692 shares during the period. Balentine LLC bought a new stake in shares of Deere & Company in the 3rd quarter worth about $710,000. Royal Fund Management LLC raised its stake in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares in the last quarter. New Century Financial Group LLC bought a new position in Deere & Company during the third quarter worth $1,052,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $24,984,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $402.65 on Tuesday. The firm has a fifty day simple moving average of $403.02 and a two-hundred day simple moving average of $385.55. 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 firm has a market cap of $110.17 billion, a PE ratio of 13.74, a P/E/G ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its 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 return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the business earned $10.20 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.46%. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup raised their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Morgan Stanley lowered their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $420.69.

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.