BSW Wealth Partners Raises Stock Position in Deere & Company (NYSE:DE)

BSW Wealth Partners boosted its holdings in shares of Deere & Company (NYSE:DE) by 14.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,549 shares of the industrial products company’s stock after purchasing an additional 200 shares during the period. BSW Wealth Partners’ holdings in Deere & Company were worth $646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in DE. Oppenheimer Asset Management Inc. increased its holdings in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after purchasing an additional 2,692 shares in the last quarter. Royal Fund Management LLC grew its position in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares during the period. New Century Financial Group LLC purchased a new position in Deere & Company in the third quarter valued at $1,052,000. Manning & Napier Advisors LLC acquired a new position in shares of Deere & Company in the second quarter worth about $24,984,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Deere & Company by 2.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 90,871 shares of the industrial products company’s stock worth $37,923,000 after acquiring an additional 1,963 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE stock traded down $4.27 during trading hours on Friday, reaching $400.42. The company had a trading volume of 1,522,533 shares, compared to its average volume of 831,506. Deere & Company has a 12-month low of $340.20 and a 12-month 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. The company has a market capitalization of $109.55 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.35 and a beta of 0.93. The stock has a fifty day moving average of $400.85 and a 200-day moving average of $385.49.

Deere & Company (NYSE:DE) last released 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 return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the company posted $10.20 earnings per share. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Morgan Stanley cut their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Evercore ISI upped their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $420.69.

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.