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

Cardinal Capital Management grew its holdings in Deere & Company (NYSE:DE) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,837 shares of the industrial products company’s stock after purchasing an additional 362 shares during the quarter. Deere & Company comprises approximately 1.9% of Cardinal Capital Management’s portfolio, making the stock its 11th largest holding. Cardinal Capital Management’s holdings in Deere & Company were worth $11,839,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Wellington Management Group LLP increased its stake in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares during the last quarter. FMR LLC boosted its stake in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares during the period. Pathway Financial Advisers LLC increased its position in shares of Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after acquiring an additional 852,885 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares during the last quarter. Finally, Stockbridge Partners LLC raised its position in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on DE. Citigroup raised their price target on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $450.12.

Deere & Company Price Performance

Shares of NYSE:DE opened at $480.17 on Tuesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The firm has a market capitalization of $130.77 billion, a P/E ratio of 18.76, a P/E/G ratio of 2.87 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company’s fifty day moving average price is $446.95 and its 200 day moving average price is $416.83.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. As a group, sell-side analysts predict that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

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.