Umpqua Bank Purchases 71 Shares of Deere & Company (NYSE:DE)

Umpqua Bank grew its position in Deere & Company (NYSE:DE) by 1.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,879 shares of the industrial products company’s stock after purchasing an additional 71 shares during the period. Umpqua Bank’s holdings in Deere & Company were worth $2,036,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DE. Armor Investment Advisors LLC raised its stake in shares of Deere & Company by 1.2% during the 3rd quarter. Armor Investment Advisors LLC now owns 5,913 shares of the industrial products company’s stock valued at $2,468,000 after buying an additional 72 shares during the last quarter. Radnor Capital Management LLC acquired a new position in Deere & Company in the third quarter valued at approximately $243,000. Catalina Capital Group LLC boosted its position in Deere & Company by 3.7% in the 3rd quarter. Catalina Capital Group LLC now owns 1,047 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 37 shares in the last quarter. Balentine LLC acquired a new position in shares of Deere & Company in the 3rd quarter valued at $710,000. Finally, Hixon Zuercher LLC grew its position in Deere & Company by 1.1% during the third quarter. Hixon Zuercher LLC now owns 4,870 shares of the industrial products company’s stock valued at $2,032,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.7 %

DE traded up $2.86 on Wednesday, reaching $403.23. The company’s stock had a trading volume of 61,762 shares, compared to its average volume of 1,429,489. The company has a market capitalization of $110.32 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 1.52 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 company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a 50 day moving average of $401.71 and a two-hundred day moving average of $385.41.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the firm posted $10.20 EPS. The company’s revenue was down 20.3% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is currently 20.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Citigroup boosted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Oppenheimer dropped their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Evercore ISI raised their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, 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. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $420.69.

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.