Pathway Financial Advisers LLC Buys New Position in Deere & Company (NYSE:DE)

Pathway Financial Advisers LLC bought a new stake in shares of Deere & Company (NYSE:DE) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,603 shares of the industrial products company’s stock, valued at approximately $659,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Tompkins Financial Corp lifted its stake in Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after buying an additional 25 shares during the period. Global Retirement Partners LLC lifted its stake in Deere & Company by 0.7% in the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock valued at $1,548,000 after buying an additional 26 shares during the period. Bleakley Financial Group LLC lifted its stake in Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares during the period. Valley National Advisers Inc. lifted its stake in Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after buying an additional 27 shares during the period. Finally, Simplicity Solutions LLC lifted its stake in Deere & Company by 0.5% in the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock traded down $4.16 on Friday, hitting $353.75. 2,820,703 shares of the stock were exchanged, compared to its average volume of 1,566,937. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $97.48 billion, a PE ratio of 10.65, a P/E/G ratio of 1.59 and a beta of 0.93. Deere & Company has a one year low of $345.93 and a one year high of $441.46. The firm’s 50 day moving average is $370.86 and its two-hundred day moving average is $382.94.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period last year, the firm posted $9.65 EPS. Sell-side analysts expect that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Raymond James initiated coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target on the stock. Oppenheimer lowered their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. TD Cowen upped their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Morgan Stanley upped their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Finally, Stifel Nicolaus upped their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $426.71.

Insider Activity at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Deere & Company 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.