Deere & Company (NYSE:DE) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can grew its position in shares of Deere & Company (NYSE:DE) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 369,674 shares of the industrial products company’s stock after buying an additional 4,993 shares during the period. Bank of Montreal Can owned about 0.13% of Deere & Company worth $138,122,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Gilbert & Cook Inc. lifted its position in Deere & Company by 5.4% in the fourth quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 102 shares during the period. 9258 Wealth Management LLC raised its stake in shares of Deere & Company by 9.8% in the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock worth $790,000 after buying an additional 176 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in Deere & Company by 62.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock valued at $551,000 after buying an additional 552 shares in the last quarter. Congress Wealth Management LLC DE raised its holdings in shares of Deere & Company by 2.6% in the 4th quarter. Congress Wealth Management LLC DE now owns 5,309 shares of the industrial products company’s stock worth $2,123,000 after purchasing an additional 136 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its position in shares of Deere & Company by 20.5% in the fourth quarter. Hilltop Holdings Inc. now owns 2,702 shares of the industrial products company’s stock worth $1,080,000 after buying an additional 460 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE opened at $408.83 on Tuesday. 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 has a 52 week low of $340.20 and a 52 week high of $417.46. The company has a fifty day moving average price of $376.98 and a two-hundred day moving average price of $383.12. The firm has a market capitalization of $112.66 billion, a PE ratio of 12.31, a P/E/G ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the previous year, the firm earned $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, analysts anticipate that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Oppenheimer lowered their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Raymond James started coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $410.50.

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.