SSI Investment Management LLC Buys New Stake in Deere & Company (NYSE:DE)

SSI Investment Management LLC purchased a new position in Deere & Company (NYSE:DE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 480 shares of the industrial products company’s stock, valued at approximately $200,000.

A number of other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its position in shares of Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares in the last quarter. Swedbank AB bought a new position in shares of Deere & Company during the first quarter worth about $191,628,000. Mawer Investment Management Ltd. bought a new stake in Deere & Company in the second quarter valued at about $166,937,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Deere & Company during the third quarter valued at approximately $136,936,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

NYSE DE opened at $405.11 on Thursday. The firm has a market capitalization of $110.84 billion, a PE ratio of 13.82, a P/E/G ratio of 1.54 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The company’s 50 day simple moving average is $404.97 and its 200 day simple moving average is $385.83.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DE. Morgan Stanley dropped their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup increased their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Bank of America raised their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $420.69.

Deere & 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.