Altman Advisors Inc. Acquires New Position in Deere & Company (NYSE:DE)

Altman Advisors Inc. acquired a new stake in Deere & Company (NYSE:DE) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,650 shares of the industrial products company’s stock, valued at approximately $1,523,000.

Other hedge funds have also added to or reduced their stakes in the company. Fairscale Capital LLC bought a new position in Deere & Company in the second quarter valued at approximately $26,000. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the third quarter worth $32,000. Olistico Wealth LLC bought a new stake in shares of Deere & Company during the second quarter worth $37,000. Finally, Centennial Bank AR grew 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 worth $39,000 after buying an additional 84 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE DE opened at $404.47 on Wednesday. The firm’s 50-day moving average price is $404.63 and its 200-day moving average price is $385.69. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The firm has a market capitalization of $110.66 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Bank of America lifted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Citigroup lifted 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. Evercore ISI lifted their price target 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. Finally, HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus 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.