3Chopt Investment Partners LLC Takes Position in Deere & Company (NYSE:DE)

3Chopt Investment Partners LLC bought a new stake in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,333 shares of the industrial products company’s stock, valued at approximately $875,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 9258 Wealth Management LLC raised its position in shares of Deere & Company by 9.8% during the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock valued at $790,000 after acquiring an additional 176 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $603,000. The Manufacturers Life Insurance Company raised its position in shares of Deere & Company by 8.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 424,074 shares of the industrial products company’s stock valued at $169,574,000 after acquiring an additional 32,146 shares in the last quarter. NEOS Investment Management LLC raised its position in shares of Deere & Company by 66.9% during the 4th quarter. NEOS Investment Management LLC now owns 3,796 shares of the industrial products company’s stock valued at $1,518,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its position in shares of Deere & Company by 3.6% during the 4th quarter. Rafferty Asset Management LLC now owns 22,466 shares of the industrial products company’s stock valued at $8,983,000 after acquiring an additional 774 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Citigroup dropped their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $410.50.

Deere & Company Trading Up 0.2 %

NYSE:DE opened at $417.33 on Tuesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $419.63. The stock has a market cap of $115.00 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.36 and a beta of 0.92. The business has a fifty day moving average of $380.26 and a 200-day moving average of $384.41. 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 (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share 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 analysts’ expectations of $10.94 billion. During the same quarter last year, the business posted $10.20 earnings per share. The company’s quarterly revenue was down 20.3% on a year-over-year basis. Equities analysts predict that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.41%. Deere & Company’s dividend payout ratio is currently 17.70%.

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.