Advisors Capital Management LLC Raises Stock Position in Deere & Company $DE

Key Points

• Advisors Capital Management LLC increased its stake in Deere & Company by 0.9%, acquiring an additional 552 shares, bringing its total holdings to 61,217 shares valued at approximately $28.73 million.
• Deere & Company reported $4.75 earnings per share for the recent quarter, exceeding analyst expectations, but experienced a 9.0% revenue decline year-over-year.
• A quarterly dividend of $1.62 per share is set to be paid on November 10th, with a dividend yield of 1.4% and a payout ratio of 33.87%.

Advisors Capital Management LLC increased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,217 shares of the industrial products company's stock after purchasing an additional 552 shares during the period. Advisors Capital Management LLC's holdings in Deere & Company were worth $28,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in DE. Chicago Partners Investment Group LLC increased its holdings in Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after buying an additional 21 shares in the last quarter. Tyler Stone Wealth Management increased its holdings in Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after buying an additional 21 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Deere & Company by 2.4% in the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after buying an additional 22 shares in the last quarter. Hayek Kallen Investment Management increased its holdings in Deere & Company by 1.7% in the first quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company's stock valued at $610,000 after buying an additional 22 shares in the last quarter. Finally, First Bancorp Inc ME increased its holdings in Deere & Company by 4.7% in the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

NYSE:DE opened at $471.54 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm has a market capitalization of $127.47 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 3.06 and a beta of 1.00. The company's 50-day moving average is $499.13 and its two-hundred day moving average is $490.41. Deere & Company has a 1-year low of $378.66 and a 1-year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the business posted $6.29 EPS. Deere & Company's revenue was down 9.0% on a year-over-year basis. Analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio is currently 33.87%.

Analyst Ratings Changes

A number of research firms have weighed in on DE. Bank of America lifted their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Citigroup cut their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Oppenheimer boosted their price target on shares of Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Finally, Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $520.87.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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