Pine Haven Investment Counsel Inc Has $1.83 Million Stock Position in Deere & Company (NYSE:DE)

by · The Markets Daily

Pine Haven Investment Counsel Inc lifted its stake in shares of Deere & Company (NYSE:DE – Free Report) by 8.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,386 shares of the industrial products company’s stock after purchasing an additional 324 shares during the quarter. Deere & Company accounts for 1.5% of Pine Haven Investment Counsel Inc’s holdings, making the stock its 18th biggest holding. Pine Haven Investment Counsel Inc’s holdings in Deere & Company were worth $1,830,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. JGP Wealth Management LLC raised its position in Deere & Company by 2.7% in the third quarter. JGP Wealth Management LLC now owns 3,012 shares of the industrial products company’s stock valued at $1,257,000 after purchasing an additional 79 shares during the last quarter. DLK Investment Management LLC lifted its stake in shares of Deere & Company by 4.2% in the third quarter. DLK Investment Management LLC now owns 8,188 shares of the industrial products company’s stock worth $3,417,000 after acquiring an additional 330 shares during the period. Strong Tower Advisory Services lifted its stake in shares of Deere & Company by 9.6% in the third quarter. Strong Tower Advisory Services now owns 12,267 shares of the industrial products company’s stock worth $5,119,000 after acquiring an additional 1,073 shares during the period. BWM Planning LLC acquired a new position in shares of Deere & Company in the third quarter worth approximately $273,000. Finally, Pinnacle Bancorp Inc. lifted its stake in shares of Deere & Company by 5.1% in the third quarter. Pinnacle Bancorp Inc. now owns 817 shares of the industrial products company’s stock worth $341,000 after acquiring an additional 40 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Finally, Oppenheimer reduced their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $420.69.

Check Out Our Latest Stock Report on DE

Deere & Company Price Performance

Shares of Deere & Company stock traded up $5.16 during trading on Friday, hitting $410.92. 236,596 shares of the stock traded hands, compared to its average volume of 1,481,212. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market cap of $112.43 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.35 and a beta of 0.92. The firm’s fifty day moving average is $385.86 and its 200-day moving average is $385.44. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47.

Deere & Company (NYSE:DE – Get Free Report) last posted its quarterly earnings results 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. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period last year, the company earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Research analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.43%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 20.06%.

Deere & Company Company Profile

(Free Report)

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.

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