Grimes & Company Inc. Grows Stock Position in Deere & Company $DE

Grimes & Company Inc. raised its stake in shares of Deere & Company (NYSE:DE) by 38.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 653 shares of the industrial products company’s stock after buying an additional 182 shares during the period. Grimes & Company Inc.’s holdings in Deere & Company were worth $332,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DE. Nuveen LLC purchased a new position in shares of Deere & Company during the 1st quarter valued at about $571,073,000. Voya Investment Management LLC raised its stake in shares of Deere & Company by 97.1% during the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after buying an additional 361,526 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after buying an additional 286,253 shares during the last quarter. Invesco Ltd. increased its stake in shares of Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after purchasing an additional 256,806 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Deere & Company by 874.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock valued at $124,028,000 after purchasing an additional 218,893 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on DE shares. Daiwa Capital Markets cut their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Wolfe Research cut their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. DA Davidson cut their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. cut their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $518.18.

Deere & Company Price Performance

NYSE:DE opened at $461.08 on Wednesday. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The stock has a 50 day moving average of $482.54 and a two-hundred day moving average of $488.94. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a market cap of $124.64 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 2.94 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the business earned $6.29 EPS. Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.32 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 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s payout ratio is currently 33.87%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.