Tectonic Advisors LLC Invests $484,000 in Deere & Company (NYSE:DE)

Tectonic Advisors LLC bought a new position in Deere & Company (NYSE:DE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,160 shares of the industrial products company’s stock, valued at approximately $484,000.

Several other hedge funds also recently modified their holdings of DE. DT Investment Partners LLC increased its position in Deere & Company by 16.5% in the 3rd quarter. DT Investment Partners LLC now owns 466 shares of the industrial products company’s stock valued at $194,000 after buying an additional 66 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Deere & Company by 12.0% during the third quarter. Assenagon Asset Management S.A. now owns 8,680 shares of the industrial products company’s stock valued at $3,622,000 after acquiring an additional 927 shares in the last quarter. Pinnacle West Asset Management Inc. raised its position in shares of Deere & Company by 1.4% during the third quarter. Pinnacle West Asset Management Inc. now owns 3,873 shares of the industrial products company’s stock worth $1,616,000 after purchasing an additional 55 shares during the period. PSI Advisors LLC grew its position in Deere & Company by 4.2% in the 3rd quarter. PSI Advisors LLC now owns 1,998 shares of the industrial products company’s stock valued at $834,000 after purchasing an additional 80 shares during the period. Finally, Grassi Investment Management bought a new stake in Deere & Company during the 3rd quarter valued at $219,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $407.93 on Friday. The company has a 50 day moving average of $397.30 and a 200 day moving average of $385.56. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a market cap of $112.41 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 20.3% on a year-over-year basis. During the same quarter last year, the company posted $10.20 EPS. As a group, sell-side analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is presently 17.70%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Raymond James started coverage on Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup lifted their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $420.69.

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.