DRW Securities LLC Boosts Holdings in Deere & Company (NYSE:DE)

DRW Securities LLC grew its stake in shares of Deere & Company (NYSE:DE) by 388.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,086 shares of the industrial products company’s stock after purchasing an additional 2,454 shares during the quarter. DRW Securities LLC’s holdings in Deere & Company were worth $1,288,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Prosperity Financial Group Inc. boosted its stake in shares of Deere & Company by 6.8% during the third quarter. Prosperity Financial Group Inc. now owns 901 shares of the industrial products company’s stock valued at $376,000 after purchasing an additional 57 shares during the period. Douglass Winthrop Advisors LLC boosted its stake in shares of Deere & Company by 2.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 273,207 shares of the industrial products company’s stock valued at $114,017,000 after purchasing an additional 7,753 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after purchasing an additional 158,732 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Deere & Company by 6.6% during the third quarter. Daiwa Securities Group Inc. now owns 44,255 shares of the industrial products company’s stock valued at $18,469,000 after purchasing an additional 2,759 shares during the period. Finally, Hartford Funds Management Co LLC boosted its stake in shares of Deere & Company by 5.7% during the third quarter. Hartford Funds Management Co LLC now owns 1,382 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 75 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE opened at $462.81 on Tuesday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a market cap of $126.62 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. The firm’s 50-day moving average price is $408.35 and its 200-day moving average price is $386.60.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.26 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 21.31 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.27%. Deere & Company’s dividend payout ratio is currently 22.97%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday. Citigroup lifted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Bank of America lifted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, Evercore ISI lifted their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $433.00.

About Deere & Company

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.