Tower Bridge Advisors Raises Stock Position in Deere & Company (NYSE:DE)

Tower Bridge Advisors raised its position in Deere & Company (NYSE:DE - Free Report) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,253 shares of the industrial products company's stock after purchasing an additional 1,450 shares during the quarter. Tower Bridge Advisors' holdings in Deere & Company were worth $3,444,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the second quarter valued at $26,000. Pineridge Advisors LLC grew its position in Deere & Company by 725.0% in the 1st 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 in the last quarter. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the third quarter worth about $32,000. Olistico Wealth LLC acquired a new stake in shares of Deere & Company during the second quarter worth about $37,000. Finally, Centennial Bank AR boosted its stake in shares of 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 purchasing an additional 84 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE stock traded up $4.31 during trading hours on Friday, hitting $398.95. The stock had a trading volume of 1,168,176 shares, compared to its average volume of 1,015,799. 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 firm has a market capitalization of $109.15 billion, a PE ratio of 13.61, a PEG ratio of 1.52 and a beta of 0.93. The stock's 50 day moving average is $404.03 and its 200 day moving average is $385.65. Deere & Company has a twelve month low of $340.20 and a twelve month 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 earnings per share for the quarter, topping analysts' consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to analysts' expectations of $10.94 billion. During the same quarter in the prior year, the business earned $10.20 EPS. Deere & Company's quarterly revenue was down 20.3% compared to the same quarter last year. As a group, research analysts forecast that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Monday, September 30th. Deere & Company's payout ratio is currently 20.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DE shares. Hsbc Global Res downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. JPMorgan Chase & Co. increased their price objective on Deere & Company from $360.00 to $420.00 and gave the company a "neutral" rating in a research note on Friday, October 11th. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They issued a "market perform" rating and a $400.00 target price for the company. HSBC downgraded Deere & Company from a "buy" rating to a "hold" rating in a report on Monday, August 19th. Finally, Citigroup lifted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently 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.