Deere & Company $DE Stock Bought by Trek Financial LLC

Key Points

• Trek Financial LLC increased its Deere & Company position by 236.6% in the third quarter, bringing its holdings to 5,412 shares valued at approximately $3.64 million. Institutional investors collectively own 68.58% of the company.
• Deere reported quarterly earnings of $5.10 per share, exceeding estimates of $4.69, while revenue rose 6.2% year over year to $12.61 billion.
• The company declared a quarterly dividend of $1.62 per share, or $6.48 annually, representing a 1.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $688.10.

Trek Financial LLC lifted its position in Deere & Company (NYSE:DE - Free Report) by 236.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,412 shares of the industrial products company's stock after acquiring an additional 3,804 shares during the period. Trek Financial LLC's holdings in Deere & Company were worth $3,635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Traynor Capital Management Inc. increased its position in shares of Deere & Company by 4.2% in the 3rd quarter. Traynor Capital Management Inc. now owns 18,742 shares of the industrial products company's stock valued at $12,586,000 after buying an additional 759 shares in the last quarter. Nippon Life Global Investors Americas Inc. raised its stake in Deere & Company by 2,911.3% during the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 87,630 shares of the industrial products company's stock worth $58,976,000 after buying an additional 84,720 shares during the period. Columbia Bank lifted its holdings in Deere & Company by 1.0% during the third quarter. Columbia Bank now owns 5,216 shares of the industrial products company's stock worth $3,503,000 after acquiring an additional 50 shares in the last quarter. Hoey Investments Inc. lifted its holdings in Deere & Company by 347.3% during the third quarter. Hoey Investments Inc. now owns 331 shares of the industrial products company's stock worth $222,000 after acquiring an additional 257 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Deere & Company in the third quarter valued at about $60,051,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

DE opened at $667.06 on Tuesday. The business's 50-day moving average price is $664.16 and its two-hundred day moving average price is $605.00. Deere & Company has a 1 year low of $454.50 and a 1 year high of $721.22. The company has a market capitalization of $179.85 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 2.34 and a beta of 0.86. 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 issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts' consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.75 earnings per share. Equities analysts expect that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Nomura upgraded Deere & Company to a "buy" rating in a report on Monday, August 31st. Royal Bank Of Canada reiterated an "outperform" rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, August 24th. Bank of America increased their target price on Deere & Company from $667.00 to $715.00 in a research note on Thursday, September 24th. Evercore upgraded shares of Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 target price on the stock in a report on Wednesday, September 2nd. Finally, Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research note on Friday, August 14th. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and an average price target of $688.10.

Deere & Company Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.

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