Deere & Company $DE Shares Purchased by Csenge Advisory Group

Csenge Advisory Group raised its position in Deere & Company (NYSE:DE) by 52.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,983 shares of the industrial products company’s stock after buying an additional 3,095 shares during the quarter. Csenge Advisory Group’s holdings in Deere & Company were worth $6,033,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Baxter Bros Inc. acquired a new stake in Deere & Company in the second quarter valued at about $1,707,000. Global Retirement Partners LLC bought a new position in Deere & Company in the second quarter valued at about $3,890,000. Nykredit A S acquired a new position in Deere & Company during the second quarter worth about $44,378,000. TRB Wealth Management LLC acquired a new position in Deere & Company during the second quarter worth about $623,000. Finally, NewEdge Advisors LLC raised its stake in Deere & Company by 11.8% during the second quarter. NewEdge Advisors LLC now owns 43,459 shares of the industrial products company’s stock worth $27,567,000 after acquiring an additional 4,586 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Key Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: ETF activity showed net interest in Deere: 36 ETFs added shares while 11 reduced holdings, and Capital Group Growth reported buying $87.4 million of Deere stock. ETF buying report Capital Group Growth report
• Neutral Sentiment: Deere added former Ernst & Young U.S. CEO Julie Boland to its board, bringing finance and governance experience. The related analysis said the shares were about 2% below its fair-value estimate, suggesting limited valuation cushion. Board and valuation analysis
• Negative Sentiment: Deere plans to end production at two Iowa plants and shift some work to other U.S. facilities and Brazil, while also moving production from Illinois and Louisiana. The company says the multiyear restructuring is intended to match capacity with demand; the closures and production shifts may nevertheless raise concerns about demand and the execution of the reorganization. Iowa plant closure report Production realignment report

Deere & Company Trading Down 0.6%

Shares of DE stock opened at $686.83 on Wednesday. The firm has a market capitalization of $185.18 billion, a P/E ratio of 38.16, a P/E/G ratio of 1.96 and a beta of 0.89. Deere & Company has a twelve month low of $455.90 and a twelve month high of $721.22. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The stock’s fifty day simple moving average is $668.81 and its 200 day simple moving average is $609.76.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.75 EPS. As a group, sell-side analysts predict that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.00%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Raymond James Financial increased their target price on shares of Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. DA Davidson upped their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research note on Friday, August 14th. Finally, Oppenheimer increased their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Seventeen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $688.10.

Deere & Company Profile

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.