Obsidian Personal Planning Solutions LLC Buys New Stake in Deere & Company (NYSE:DE)

Obsidian Personal Planning Solutions LLC bought a new stake in Deere & Company (NYSE:DE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 532 shares of the industrial products company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Pineridge Advisors LLC boosted its stake in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the period. Fairscale Capital LLC purchased a new position in Deere & Company during the second quarter worth $26,000. Livelsberger Financial Advisory purchased a new position in Deere & Company during the third quarter worth $32,000. Olistico Wealth LLC purchased a new position in Deere & Company during the second quarter worth $37,000. Finally, Centennial Bank AR boosted its stake in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DE shares. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

Shares of DE stock opened at $398.95 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The firm has a market capitalization of $109.15 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.52 and a beta of 0.93. 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 stock’s 50-day simple moving average is $404.03 and its 200-day simple moving average is $385.65.

Deere & Company (NYSE:DE) last issued its quarterly earnings results 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. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.20 earnings per share. As a group, equities analysts forecast that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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 1.47%. Deere & Company’s dividend payout ratio is currently 20.06%.

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.