Deere & Company (NYSE:DE) Shares Purchased by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC grew its holdings in Deere & Company (NYSE:DE - Free Report) by 1.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 181,636 shares of the industrial products company's stock after buying an additional 2,845 shares during the period. Deere & Company accounts for approximately 2.1% of Fort Pitt Capital Group LLC's portfolio, making the stock its 23rd largest position. Fort Pitt Capital Group LLC owned about 0.07% of Deere & Company worth $75,802,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mattern Wealth Management LLC increased its stake in Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company's stock valued at $786,000 after buying an additional 25 shares during the period. Carret Asset Management LLC increased its stake in shares of Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company's stock worth $3,401,000 after acquiring an additional 25 shares during the period. Centaurus Financial Inc. increased its stake in shares of Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company's stock worth $433,000 after acquiring an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. raised its holdings in Deere & Company by 0.7% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company's stock worth $1,459,000 after purchasing an additional 26 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in Deere & Company by 1.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company's stock valued at $578,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

DE stock traded down $4.27 during trading on Friday, hitting $400.42. The stock had a trading volume of 1,522,533 shares, compared to its average volume of 831,506. The stock has a market cap of $109.55 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.35 and a beta of 0.93. 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 $400.85 and its two-hundred day moving average price is $385.41. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts' consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company's quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.20 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DE. Morgan Stanley cut their target price on 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 Global Res cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 19th. HSBC lowered shares of Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Evercore ISI boosted their price objective 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. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $420.69.

Deere & 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.