Crestwood Advisors Group LLC Grows Position in Deere & Company (NYSE:DE)

Crestwood Advisors Group LLC increased its position in shares of Deere & Company (NYSE:DE) by 3.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,761 shares of the industrial products company’s stock after buying an additional 89 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Deere & Company were worth $1,152,000 as of its most recent SEC filing.

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

Deere & Company Stock Performance

Shares of DE stock opened at $400.30 on Wednesday. The stock has a fifty day moving average price of $401.71 and a 200 day moving average price of $385.41. The stock has a market cap of $109.52 billion, a PE ratio of 13.66, a P/E/G ratio of 1.52 and a beta of 0.93. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. 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 (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm 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%. Deere & Company’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted $10.20 earnings per share. Sell-side analysts forecast that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DE shares. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Citigroup raised their price target on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report 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’s stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $420.69.

Deere & 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.