Stonegate Investment Group LLC Boosts Stock Position in Deere & Company (NYSE:DE)

Stonegate Investment Group LLC raised its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,042 shares of the industrial products company's stock after acquiring an additional 4,241 shares during the quarter. Stonegate Investment Group LLC's holdings in Deere & Company were worth $47,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of DE. Lantz Financial LLC increased its stake in shares of Deere & Company by 15.9% in the first quarter. Lantz Financial LLC now owns 699 shares of the industrial products company's stock worth $287,000 after purchasing an additional 96 shares in the last quarter. SOA Wealth Advisors LLC. raised its holdings in Deere & Company by 7.0% during the first quarter. SOA Wealth Advisors LLC. now owns 677 shares of the industrial products company's stock valued at $278,000 after acquiring an additional 44 shares during the period. Park Avenue Securities LLC lifted its position in shares of Deere & Company by 4.3% in the first quarter. Park Avenue Securities LLC now owns 4,156 shares of the industrial products company's stock valued at $1,707,000 after acquiring an additional 173 shares in the last quarter. Allied Investment Advisors LLC boosted its stake in shares of Deere & Company by 4.4% in the first quarter. Allied Investment Advisors LLC now owns 25,283 shares of the industrial products company's stock worth $10,385,000 after acquiring an additional 1,076 shares during the period. Finally, Gulf International Bank UK Ltd grew its position in shares of Deere & Company by 0.4% during the first quarter. Gulf International Bank UK Ltd now owns 22,978 shares of the industrial products company's stock worth $9,437,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on DE shares. Raymond James began coverage on Deere & Company in a research note on Friday, June 28th. They issued an "outperform" rating and a $420.00 price target for the company. Morgan Stanley cut their target price 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. HSBC cut shares of Deere & Company from a "buy" rating to a "hold" rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a "hold" rating on the stock in a report on Thursday, August 8th. Finally, BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They set a "market perform" rating and a $400.00 price target for the company. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $420.69.

Deere & Company Trading Up 0.9 %

Shares of DE stock traded up $3.59 during trading hours on Friday, reaching $408.73. 743,332 shares of the stock were exchanged, compared to its average volume of 1,470,607. The firm has a market capitalization of $112.63 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company's 50-day moving average price is $393.03 and its 200-day moving average price is $385.53. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE - Get Free Report) last announced its 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 return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the business earned $10.20 earnings per share. The company's revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. Deere & Company's payout ratio is 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.