Deere & Company $DE Stake Boosted by Fragasso Financial Advisors Inc

Key Points

• Fragasso Financial Advisors increased its Deere & Company stake by 160.3% in the third quarter, bringing its holdings to 2,731 shares valued at approximately $1.7 million. Institutional investors collectively own 68.58% of the stock.
• Deere reported quarterly earnings of $5.10 per share, exceeding the $4.69 consensus estimate, while revenue rose 6.2% year over year to $12.61 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $688.10 price target; Deere also announced a quarterly dividend of $1.62 per share, yielding about 1.0%.

Fragasso Financial Advisors Inc grew its holdings in Deere & Company (NYSE:DE - Free Report) by 160.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,731 shares of the industrial products company's stock after acquiring an additional 1,682 shares during the period. Fragasso Financial Advisors Inc's holdings in Deere & Company were worth $1,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. JGP Wealth Management LLC raised its holdings in shares of Deere & Company by 4.3% in the third quarter. JGP Wealth Management LLC now owns 3,385 shares of the industrial products company's stock valued at $2,274,000 after buying an additional 139 shares during the last quarter. Sacks & Associates LLC bought a new position in shares of Deere & Company in the 3rd quarter valued at about $705,000. Friday Financial raised its stake in shares of Deere & Company by 2.2% during the third quarter. Friday Financial now owns 3,023 shares of the industrial products company's stock worth $2,017,000 after buying an additional 64 shares during the last quarter. GK Wealth Management LLC bought a new position in Deere & Company in the third quarter valued at approximately $125,000. Finally, Wedmont Private Capital raised its position in shares of Deere & Company by 25.5% during the 3rd quarter. Wedmont Private Capital now owns 4,257 shares of the industrial products company's stock valued at $2,778,000 after acquiring an additional 864 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock traded up $10.93 during trading on Tuesday, reaching $643.54. 424,349 shares of the company were exchanged, compared to its average volume of 1,361,567. The company has a 50-day moving average of $655.50 and a two-hundred day moving average of $610.03. The company has a market capitalization of $173.51 billion, a price-to-earnings ratio of 35.72, a P/E/G ratio of 2.27 and a beta of 0.86. Deere & Company has a twelve month low of $433.00 and a twelve month high of $721.22. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion during the quarter, compared to analysts' expectations of $10.81 billion. During the same period in the prior year, the company posted $4.75 earnings per share. Deere & Company's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 18.12 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company's payout ratio is presently 36.00%.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $585.00 to $625.00 and gave the stock a "neutral" rating in a research note on Thursday, October 8th. Evercore upgraded Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price objective on the stock in a research note on Wednesday, September 2nd. Raymond James Financial lifted their price objective on shares of Deere & Company from $700.00 to $730.00 and gave the stock an "outperform" rating in a research report on Monday, August 31st. Finally, Barclays raised their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 24th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $688.10.

About Deere & Company

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company's products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.

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