Geneva Partners LLC Purchases 6,195 Shares of Deere & Company $DE

Geneva Partners LLC increased its position in Deere & Company (NYSE:DE) by 1,116.2% during the third quarter, Holdings Channel reports. The fund owned 6,750 shares of the industrial products company’s stock after purchasing an additional 6,195 shares during the quarter. Deere & Company comprises approximately 1.4% of Geneva Partners LLC’s investment portfolio, making the stock its 28th largest position. Geneva Partners LLC’s holdings in Deere & Company were worth $4,533,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DE. Baxter Bros Inc. bought a new stake in shares of Deere & Company in the 2nd quarter worth $1,707,000. Global Retirement Partners LLC acquired a new stake in shares of Deere & Company in the second quarter valued at $3,890,000. Nykredit A S bought a new position in Deere & Company during the second quarter valued at about $44,378,000. TRB Wealth Management LLC bought a new position in Deere & Company during the second quarter valued at about $623,000. Finally, NewEdge Advisors LLC boosted its stake in Deere & Company by 11.8% during the second quarter. NewEdge Advisors LLC now owns 43,459 shares of the industrial products company’s stock valued at $27,567,000 after buying an additional 4,586 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $640.69 on Tuesday. The company has a market capitalization of $172.74 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 2.36 and a beta of 0.86. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The stock has a fifty day moving average of $658.72 and a 200-day moving average of $600.08. Deere & Company has a one year low of $454.50 and a one year high of $721.22.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.75 EPS. As a group, equities analysts anticipate that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. DA Davidson boosted their price target on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Barclays upped their price target on shares of Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 24th. Oppenheimer raised their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Finally, Bank of America lifted their price objective on shares of Deere & Company from $667.00 to $715.00 in a research note on Thursday, September 24th. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.