Burford Brothers Inc. Makes New Investment in Deere & Company (NYSE:DE)

Burford Brothers Inc. purchased a new position in Deere & Company (NYSE:DE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 499 shares of the industrial products company’s stock, valued at approximately $208,000.

Several other institutional investors also recently modified their holdings of DE. Oppenheimer Asset Management Inc. lifted 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 valued at $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Aviance Capital Partners LLC bought a new position in Deere & Company during the 1st quarter valued at approximately $2,783,000. 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 during the last quarter. New Century Financial Group LLC bought a new stake in Deere & Company in the third quarter worth $1,052,000. Finally, Manning & Napier Advisors LLC bought a new stake in Deere & Company in the second quarter worth $24,984,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $407.93 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The business has a 50-day moving average price of $397.30 and a 200-day moving average price of $385.56. The firm has a market cap of $112.41 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $10.20 earnings per share. As a group, equities research analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Wall Street Analyst Weigh In

DE has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. 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 research note on Monday, August 19th. Citigroup raised their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley reduced their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company 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.