United Advisor Group LLC Buys New Shares in Deere & Company (NYSE:DE)

United Advisor Group LLC purchased a new stake in Deere & Company (NYSE:DE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 555 shares of the industrial products company’s stock, valued at approximately $232,000.

Several other hedge funds have also bought and sold shares of DE. Fairscale Capital LLC bought a new stake in shares of Deere & Company in the second quarter valued at about $26,000. Pineridge Advisors LLC grew its holdings in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the third quarter worth $32,000. Olistico Wealth LLC acquired a new position in Deere & Company in the 2nd quarter worth about $37,000. Finally, Centennial Bank AR boosted its stake in shares of Deere & Company by 420.0% during 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 in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on DE. Oppenheimer cut their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. upped 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. Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

DE opened at $405.71 on Thursday. The stock has a market capitalization of $111.00 billion, a P/E ratio of 13.84, a P/E/G ratio of 1.52 and a beta of 0.93. The company’s 50-day simple moving average is $402.27 and its two-hundred day simple moving average is $385.56. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. 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) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.20 EPS. As a group, analysts predict that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

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.