Connable Office Inc. Invests $2.06 Million in Deere & Company (NYSE:DE)

Connable Office Inc. purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,932 shares of the industrial products company's stock, valued at approximately $2,058,000.

A number of other institutional investors have also added to or reduced their stakes in DE. Oppenheimer Asset Management Inc. boosted its stake 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 in the last quarter. Chase Investment Counsel Corp raised its holdings in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company's stock valued at $1,669,000 after buying an additional 1,400 shares during the last quarter. Balentine LLC acquired a new stake in Deere & Company during the 3rd quarter worth approximately $710,000. Royal Fund Management LLC grew its holdings in Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company's stock worth $2,694,000 after acquiring an additional 3,223 shares during the last quarter. Finally, New Century Financial Group LLC acquired a new position in Deere & Company in the 3rd quarter valued at approximately $1,052,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 1.1 %

Deere & Company stock traded up $4.31 during mid-day trading on Friday, reaching $398.95. The stock had a trading volume of 1,164,454 shares, compared to its average volume of 1,431,512. The firm has a market capitalization of $109.15 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The stock's 50-day simple moving average is $403.69 and its 200-day simple moving average is $385.70. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter last year, the firm posted $10.20 EPS. Deere & Company's revenue was down 20.3% compared to the same quarter last year. On average, sell-side analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. 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 presently 20.06%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an "in-line" rating in a report on Monday, August 19th. Bank of America upped their price target on Deere & Company from $400.00 to $410.00 and gave the company a "neutral" rating in a research report on Friday, August 16th. 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 price objective for the company. HSBC downgraded shares of Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a "neutral" rating in a research report on Friday, October 11th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of "Hold" and an average 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.