MidAtlantic Capital Management Inc. Makes New $376,000 Investment in Deere & Company (NYSE:DE)

MidAtlantic Capital Management Inc. acquired a new position in shares of Deere & Company (NYSE:DE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 900 shares of the industrial products company’s stock, valued at approximately $376,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new position in Deere & Company during the 2nd quarter valued at about $26,000. Pineridge Advisors LLC lifted its position in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 3rd quarter valued at about $32,000. Olistico Wealth LLC acquired a new position in Deere & Company during the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR lifted its position in 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 purchasing an additional 84 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DE. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Evercore ISI increased their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Twelve 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, the stock has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Price Performance

NYSE DE opened at $399.50 on Monday. The stock has a market cap of $109.30 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.52 and a beta of 0.93. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The business has a 50 day simple moving average of $404.03 and a 200 day simple moving average of $385.64. 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 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. 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 quarterly revenue was down 20.3% on a year-over-year basis. During the same period last year, the business earned $10.20 EPS. Analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio is currently 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.