Tandem Capital Management Corp ADV Buys New Shares in Deere & Company (NYSE:DE)

Tandem Capital Management Corp ADV acquired a new position in Deere & Company (NYSE:DE) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 3,135 shares of the industrial products company’s stock, valued at approximately $1,288,000.

Other institutional investors have also recently made changes to their positions in the company. Pineridge Advisors LLC boosted its stake 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 during the last quarter. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the 3rd quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new position in shares of Deere & Company in the second quarter valued at $37,000. Finally, Centennial Bank AR increased its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DE. Citigroup upped their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Raymond James initiated coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective on the stock. Truist Financial lifted their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $2.25 during trading hours on Friday, hitting $413.32. The stock had a trading volume of 16,298 shares, compared to its average volume of 1,451,009. The firm has a market capitalization of $113.90 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.35 and a beta of 0.92. 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 1-year low of $340.20 and a 1-year high of $420.47. The stock’s fifty day simple moving average is $396.54 and its 200 day simple moving average is $385.38.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping 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 net margin of 14.69% and a return on equity of 36.71%. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period last year, the company posted $10.20 earnings per share. Sell-side analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.42%. Deere & Company’s dividend payout ratio is 17.70%.

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.