3,135 Shares in Deere & Company (NYSE:DE) Acquired by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV purchased a new position in shares of Deere & Company (NYSE:DE) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,135 shares of the industrial products company’s stock, valued at approximately $1,288,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. boosted its holdings in Deere & Company by 11.6% in the first quarter. Sunbelt Securities Inc. now owns 714 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 74 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of Deere & Company by 38.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,652 shares of the industrial products company’s stock valued at $1,911,000 after buying an additional 1,296 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Deere & Company by 45.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 77,781 shares of the industrial products company’s stock valued at $31,948,000 after buying an additional 24,171 shares during the last quarter. Thrive Wealth Management LLC acquired a new stake in shares of Deere & Company in the 1st quarter worth about $218,000. Finally, Hennessy Advisors Inc. boosted its stake in Deere & Company by 14.5% during the 1st quarter. Hennessy Advisors Inc. now owns 7,100 shares of the industrial products company’s stock valued at $2,916,000 after purchasing an additional 900 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DE shares. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Citigroup increased their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Bank of America boosted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Oppenheimer dropped their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Evercore ISI upped their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Up 0.5 %

DE traded up $2.25 on Friday, hitting $413.32. The company had a trading volume of 16,298 shares, compared to its average volume of 1,451,009. The stock has a fifty day simple moving average of $396.54 and a 200-day simple moving average of $385.38. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a market capitalization of $113.90 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly 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 during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the business earned $10.20 EPS. As a group, equities analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 1.42%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 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.