Main Street Financial Solutions LLC Purchases New Position in Deere & Company (NYSE:DE)

Main Street Financial Solutions LLC bought a new stake in Deere & Company (NYSE:DE - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,447 shares of the industrial products company's stock, valued at approximately $1,021,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in shares of Deere & Company in the 1st quarter worth $138,000. Beacon Investment Advisory Services Inc. raised its holdings in Deere & Company by 167.9% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 2,071 shares of the industrial products company's stock worth $851,000 after buying an additional 1,298 shares during the period. Midwest Professional Planners LTD. lifted its stake in Deere & Company by 19.3% during the first quarter. Midwest Professional Planners LTD. now owns 754 shares of the industrial products company's stock valued at $310,000 after buying an additional 122 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of Deere & Company by 5.2% in the first quarter. HBK Sorce Advisory LLC now owns 4,368 shares of the industrial products company's stock worth $1,794,000 after buying an additional 214 shares during the period. Finally, ProVise Management Group LLC purchased a new position in shares of Deere & Company in the first quarter worth approximately $288,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $360.00 to $420.00 and gave the company a "neutral" rating in a research report on Friday, October 11th. Citigroup lifted their price target on Deere & Company from $395.00 to $420.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a "hold" rating for the company in a research note on Thursday, August 8th. 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. Finally, Oppenheimer reduced their price target on shares of Deere & Company from $465.00 to $448.00 and set an "outperform" rating for the company in a research report on Monday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $420.69.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $5.23 on Thursday, hitting $394.68. 1,224,979 shares of the company were exchanged, compared to its average volume of 1,432,701. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company's 50 day moving average price is $403.47 and its two-hundred day moving average price is $385.64. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The firm has a market capitalization of $107.98 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data 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 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 quarter last year, the firm earned $10.20 EPS. Deere & Company's revenue for the quarter was down 20.3% compared to the same quarter last year. Research analysts expect that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company's payout ratio is 20.06%.

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.