Tectonic Advisors LLC Purchases Shares of 1,160 Deere & Company (NYSE:DE)

Tectonic Advisors LLC acquired a new stake in Deere & Company (NYSE:DE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,160 shares of the industrial products company’s stock, valued at approximately $484,000.

Several other institutional investors also recently modified their holdings of DE. Sunbelt Securities Inc. boosted its stake in shares of Deere & Company by 11.6% during the 1st quarter. Sunbelt Securities Inc. now owns 714 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 74 shares during the period. Hennessy Advisors Inc. boosted its position in Deere & Company by 14.5% during the first quarter. Hennessy Advisors Inc. now owns 7,100 shares of the industrial products company’s stock worth $2,916,000 after purchasing an additional 900 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Deere & Company by 2.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 7,617 shares of the industrial products company’s stock worth $3,129,000 after purchasing an additional 147 shares during the period. Chemung Canal Trust Co. increased its holdings in shares of Deere & Company by 56.7% in the first quarter. Chemung Canal Trust Co. now owns 15,271 shares of the industrial products company’s stock valued at $6,272,000 after purchasing an additional 5,525 shares during the last quarter. Finally, Fox Hill Wealth Management raised its position in shares of Deere & Company by 6.8% in the first quarter. Fox Hill Wealth Management now owns 964 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 61 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Down 0.8 %

Shares of DE opened at $407.93 on Friday. The firm has a 50 day simple moving average of $397.30 and a two-hundred day simple moving average of $385.56. The company has a market cap of $112.41 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the previous year, the firm posted $10.20 EPS. The firm’s revenue was down 20.3% on a year-over-year basis. Research analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio is 17.70%.

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.