Cape ANN Savings Bank Acquires 172 Shares of Deere & Company (NYSE:DE)

Cape ANN Savings Bank boosted its stake in shares of Deere & Company (NYSE:DE) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,644 shares of the industrial products company’s stock after acquiring an additional 172 shares during the quarter. Cape ANN Savings Bank’s holdings in Deere & Company were worth $1,103,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. lifted its holdings in Deere & Company by 25.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 1,697 shares of the industrial products company’s stock worth $708,000 after buying an additional 349 shares in the last quarter. Marion Wealth Management lifted its stake in shares of Deere & Company by 6.3% during the third quarter. Marion Wealth Management now owns 3,611 shares of the industrial products company’s stock valued at $1,507,000 after acquiring an additional 215 shares during the period. Advance Capital Management Inc. acquired a new stake in Deere & Company in the third quarter worth about $217,000. Evanson Asset Management LLC bought a new stake in Deere & Company during the 3rd quarter worth about $247,000. Finally, Chapin Davis Inc. lifted its position in Deere & Company by 5.2% during the 3rd quarter. Chapin Davis Inc. now owns 1,828 shares of the industrial products company’s stock valued at $763,000 after purchasing an additional 91 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.4 %

Shares of NYSE:DE opened at $400.34 on Wednesday. The firm has a market cap of $110.32 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.36 and a beta of 0.92. The company’s fifty day simple moving average is $383.66 and its 200 day simple moving average is $385.15. Deere & Company has a 12 month low of $340.20 and a 12 month 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.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter last year, the firm earned $10.20 EPS. As a group, research analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

Analyst Ratings Changes

Several brokerages have recently commented on DE. Raymond James began coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. Evercore ISI raised their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Finally, Morgan Stanley decreased their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $410.50.

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.