Deere & Company $DE Stock Purchased by Brookstone Capital Management

Key Points

• Brookstone Capital Management increased its Deere & Company stake by 39.2% in the third quarter, bringing its holdings to 8,356 shares valued at approximately $5.6 million. Institutional investors collectively own 68.58% of the company.
• Deere reported quarterly earnings of $5.10 per share, surpassing the $4.69 consensus estimate, while revenue rose 6.2% year over year to $12.61 billion.
• The company declared a quarterly dividend of $1.62 per share, equivalent to an annualized $6.48 and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $688.10.

Brookstone Capital Management increased its stake in Deere & Company (NYSE:DE - Free Report) by 39.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,356 shares of the industrial products company's stock after purchasing an additional 2,354 shares during the period. Brookstone Capital Management's holdings in Deere & Company were worth $5,612,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Virtue Asset Management LLC lifted its stake in shares of Deere & Company by 2.1% in the 3rd quarter. Virtue Asset Management LLC now owns 4,397 shares of the industrial products company's stock worth $2,953,000 after acquiring an additional 89 shares during the period. Legacy Financial Group Inc. raised its holdings in Deere & Company by 8.1% during the 3rd quarter. Legacy Financial Group Inc. now owns 346 shares of the industrial products company's stock worth $232,000 after buying an additional 26 shares during the period. NBT Bank N.A. acquired a new stake in shares of Deere & Company during the third quarter valued at approximately $19,495,000. Root Financial Partners LLC grew its holdings in shares of Deere & Company by 21.5% during the third quarter. Root Financial Partners LLC now owns 1,047 shares of the industrial products company's stock valued at $703,000 after buying an additional 185 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new position in Deere & Company during the 3rd quarter valued at about $298,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 0.3%

Shares of NYSE DE opened at $645.61 on Friday. Deere & Company has a 1 year low of $454.50 and a 1 year high of $721.22. The firm has a market capitalization of $174.07 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 2.36 and a beta of 0.86. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The firm's 50-day moving average is $660.40 and its 200-day moving average is $614.23.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the prior year, the firm posted $4.75 earnings per share. The company's quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts expect that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DE. Evercore raised Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 target price on the stock in a research report on Wednesday, September 2nd. Weiss Ratings upgraded shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, September 21st. Wall Street Zen lowered Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Barclays upped their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 24th. Finally, Seaport Research Partners set a $570.00 target price on Deere & Company in a research report on Friday, August 14th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $688.10.

About Deere & Company

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.