Engineers Gate Manager LP Invests $374,000 in Deere & Company (NYSE:DE)

Engineers Gate Manager LP purchased a new stake in Deere & Company (NYSE:DE – Get Rating) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 1,120 shares of the industrial products company’s stock, valued at approximately $374,000.

A number of other institutional investors have also recently bought and sold shares of DE. Worth Asset Management LLC acquired a new position in shares of Deere & Company in the first quarter worth about $28,000. Riggs Asset Managment Co. Inc. boosted its stake in Deere & Company by 411.8% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 87 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 70 shares during the period. Bell Investment Advisors Inc grew its position in Deere & Company by 64.3% during the 3rd quarter. Bell Investment Advisors Inc now owns 92 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares in the last quarter. IFS Advisors LLC acquired a new stake in Deere & Company during the 3rd quarter valued at $35,000. Finally, Standard Family Office LLC purchased a new stake in shares of Deere & Company in the third quarter valued at $41,000. Hedge funds and other institutional investors own 75.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DE. Robert W. Baird upped their price target on Deere & Company from $470.00 to $512.00 and gave the company an “outperform” rating in a research report on Friday, February 17th. UBS Group increased their price target on shares of Deere & Company from $374.00 to $452.00 and gave the stock a “neutral” rating in a research report on Friday, November 25th. Evercore ISI boosted their price objective on shares of Deere & Company from $463.00 to $513.00 in a research report on Monday, November 28th. Citigroup increased their target price on shares of Deere & Company from $425.00 to $505.00 and gave the stock a “buy” rating in a research report on Thursday, December 1st. Finally, Argus boosted their price target on shares of Deere & Company from $475.00 to $485.00 and gave the company a “buy” rating in a report on Tuesday, February 21st. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $460.81.

Deere & Company Stock Up 0.6 %

Shares of DE stock opened at $398.22 on Tuesday. The stock’s 50 day simple moving average is $419.97 and its 200 day simple moving average is $402.86. Deere & Company has a twelve month low of $283.81 and a twelve month high of $448.40. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.76 and a current ratio of 2.07. The company has a market capitalization of $118.00 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 1.05 and a beta of 1.05.

Deere & Company (NYSE:DE – Get Rating) last released its quarterly earnings results on Friday, February 17th. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $1.02. Deere & Company had a net margin of 14.71% and a return on equity of 41.17%. The company had revenue of $11.40 billion for the quarter, compared to analyst estimates of $11.14 billion. During the same quarter last year, the firm posted $2.92 earnings per share. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 30.58 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 8th. Shareholders of record on Friday, March 31st will be given a dividend of $1.25 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.00 dividend on an annualized basis and a yield of 1.26%. Deere & Company’s payout ratio is currently 17.80%.

Deere & Company Company Profile

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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.