Pinnacle Financial Partners Inc Grows Stock Position in Deere & Company (NYSE:DE)

Pinnacle Financial Partners Inc increased its stake in shares of Deere & Company (NYSE:DE) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,270 shares of the industrial products company’s stock after acquiring an additional 591 shares during the period. Pinnacle Financial Partners Inc’s holdings in Deere & Company were worth $15,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Fairscale Capital LLC acquired a new position in shares of Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC boosted its stake in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in Deere & Company during the 3rd quarter worth approximately $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company during the 2nd quarter worth $37,000. Finally, Centennial Bank AR grew its holdings in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Oppenheimer lowered their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley decreased their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Down 2.2 %

Deere & Company stock opened at $393.83 on Wednesday. The company has a market cap of $107.75 billion, a PE ratio of 13.44, a PEG ratio of 1.53 and a beta of 0.93. The business’s 50-day simple moving average is $403.52 and its two-hundred day simple moving average is $385.61. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $10.20 earnings per share. Equities analysts anticipate that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

Deere & 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.