CIBC Asset Management Inc Grows Stake in Deere & Company (NYSE:DE)

CIBC Asset Management Inc boosted its holdings in Deere & Company (NYSE:DE) by 4.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,074 shares of the industrial products company’s stock after purchasing an additional 1,474 shares during the quarter. CIBC Asset Management Inc’s holdings in Deere & Company were worth $15,889,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the second quarter worth about $26,000. Pineridge Advisors LLC increased its stake in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the 3rd quarter worth approximately $32,000. Olistico Wealth LLC bought a new position in shares of Deere & Company during the 2nd quarter valued at approximately $37,000. Finally, Centennial Bank AR boosted its position in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DE shares. Citigroup upped their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Oppenheimer decreased their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Up 1.1 %

NYSE:DE opened at $398.95 on Friday. The company’s 50-day simple moving average is $403.69 and its 200-day simple moving average is $385.70. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The stock has a market capitalization of $109.15 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.48 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the business earned $10.20 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

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.