Cortland Associates Inc. MO Makes New Investment in Deere & Company (NYSE:DE)

Cortland Associates Inc. MO acquired a new stake in Deere & Company (NYSE:DE) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 606 shares of the industrial products company’s stock, valued at approximately $253,000.

Other institutional investors also recently modified their holdings of the company. Fairscale Capital LLC acquired a new position in Deere & Company in the 2nd quarter worth about $26,000. Pineridge Advisors LLC raised its holdings in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the 3rd quarter valued at about $32,000. Olistico Wealth LLC bought a new stake in Deere & Company during the second quarter worth approximately $37,000. Finally, Centennial Bank AR raised its position in shares of Deere & Company by 420.0% in 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. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $400.42 on Monday. 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 firm has a market capitalization of $109.55 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.35 and a beta of 0.93. The firm’s 50 day moving average is $400.85 and its 200-day moving average is $385.41. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47.

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

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DE. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup increased their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus 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.