MidAtlantic Capital Management Inc. Acquires New Position in Deere & Company (NYSE:DE)

MidAtlantic Capital Management Inc. acquired a new stake in shares of Deere & Company (NYSE:DE) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 900 shares of the industrial products company’s stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Pineridge Advisors LLC lifted its stake in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Fairscale Capital LLC acquired a new stake in Deere & Company in the second quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company in the second quarter valued at approximately $37,000. Finally, Centennial Bank AR lifted its stake in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.1 %

Shares of Deere & Company stock opened at $399.50 on Monday. The firm has a market capitalization of $109.30 billion, a PE ratio of 13.61, 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 current ratio of 2.07 and a quick ratio of 1.87. The company’s fifty day moving average price is $404.03 and its two-hundred day moving average price is $385.64. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

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, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 EPS. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DE shares. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Truist Financial boosted their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $420.69.

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.