Stiles Financial Services Inc Has $696,000 Stock Holdings in Deere & Company (NYSE:DE)

Stiles Financial Services Inc lifted its holdings in shares of Deere & Company (NYSE:DE) by 2.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,666 shares of the industrial products company’s stock after acquiring an additional 32 shares during the period. Stiles Financial Services Inc’s holdings in Deere & Company were worth $696,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

DE has been the subject of a number of research reports. Evercore ISI raised their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Oppenheimer cut their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Citigroup lifted their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. 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, Deere & Company has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Down 1.5 %

DE stock opened at $404.99 on Friday. The stock’s 50 day simple moving average is $402.27 and its 200 day simple moving average is $385.56. The company has a market cap of $110.81 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47.

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 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 company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the firm earned $10.20 earnings per share. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm 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 dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is presently 20.06%.

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.