Planning Capital Management Corp Acquires 130 Shares of Deere & Company (NYSE:DE)

Planning Capital Management Corp grew its holdings in Deere & Company (NYSE:DE) by 19.1% in the 3rd quarter, Holdings Channel reports. The fund owned 811 shares of the industrial products company’s stock after purchasing an additional 130 shares during the quarter. Planning Capital Management Corp’s holdings in Deere & Company were worth $338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. KBC Group NV raised its stake in shares of Deere & Company by 10.9% in the third quarter. KBC Group NV now owns 101,794 shares of the industrial products company’s stock valued at $42,482,000 after purchasing an additional 9,968 shares in the last quarter. Summit Asset Management LLC raised its stake in shares of Deere & Company by 37.6% in the third quarter. Summit Asset Management LLC now owns 3,200 shares of the industrial products company’s stock valued at $1,335,000 after purchasing an additional 875 shares in the last quarter. BCM Advisors LLC raised its stake in shares of Deere & Company by 0.5% in the third quarter. BCM Advisors LLC now owns 5,548 shares of the industrial products company’s stock valued at $2,229,000 after purchasing an additional 29 shares in the last quarter. Cable Hill Partners LLC acquired a new position in shares of Deere & Company in the third quarter valued at $214,000. Finally, Bell Bank raised its stake in shares of Deere & Company by 2.1% in the third quarter. Bell Bank now owns 2,346 shares of the industrial products company’s stock valued at $979,000 after purchasing an additional 48 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on DE. 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. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup increased their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

Shares of DE stock opened at $389.45 on Thursday. The stock’s fifty day moving average is $403.47 and its 200-day moving average is $385.64. 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 stock has a market capitalization of $106.55 billion, a PE ratio of 13.29, a PEG ratio of 1.50 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The company 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 revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.20 earnings per share. Equities research analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is 20.06%.

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.