Deere & Company (NYSE:DE) Shares Bought by Cardinal Capital Management

Cardinal Capital Management grew its position in Deere & Company (NYSE:DE) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,475 shares of the industrial products company’s stock after purchasing an additional 275 shares during the period. Deere & Company accounts for about 1.8% of Cardinal Capital Management’s portfolio, making the stock its 11th biggest position. Cardinal Capital Management’s holdings in Deere & Company were worth $11,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in DE. Good Life Advisors LLC boosted its position in shares of Deere & Company by 12.2% in the 3rd quarter. Good Life Advisors LLC now owns 3,457 shares of the industrial products company’s stock worth $1,443,000 after purchasing an additional 376 shares in the last quarter. Crown Oak Advisors LLC raised its stake in Deere & Company by 0.5% in the third quarter. Crown Oak Advisors LLC now owns 23,984 shares of the industrial products company’s stock valued at $10,009,000 after buying an additional 116 shares during the last quarter. Greater Midwest Financial Group LLC raised its stake in Deere & Company by 1.1% in the third quarter. Greater Midwest Financial Group LLC now owns 6,061 shares of the industrial products company’s stock valued at $2,529,000 after buying an additional 66 shares during the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Deere & Company by 0.9% in the third quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock worth $1,293,000 after acquiring an additional 27 shares in the last quarter. Finally, Culbertson A N & Co. Inc. grew its stake in shares of Deere & Company by 2.5% during the third quarter. Culbertson A N & Co. Inc. now owns 23,937 shares of the industrial products company’s stock worth $9,989,000 after acquiring an additional 585 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DE. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Bank of America lifted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Evercore ISI upped their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Trading Down 1.0 %

Deere & Company stock opened at $405.27 on Friday. The firm has a market cap of $111.68 billion, a PE ratio of 12.20, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The stock’s 50 day simple moving average is $391.78 and its two-hundred day simple moving average is $385.50. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the firm posted $10.20 earnings per share. The company’s revenue was down 20.3% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s dividend payout ratio is currently 17.70%.

Deere & Company Company Profile

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.