Congress Asset Management Co. Has $1.01 Million Position in Deere & Company (NYSE:DE)

by · The Markets Daily

Congress Asset Management Co. trimmed its stake in Deere & Company (NYSE:DE – Free Report) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,415 shares of the industrial products company’s stock after selling 158 shares during the quarter. Congress Asset Management Co.’s holdings in Deere & Company were worth $1,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Fairscale Capital LLC acquired a new position in shares of Deere & Company during the second quarter worth approximately $26,000. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 725.0% in 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 third quarter valued at about $32,000. Olistico Wealth LLC bought a new stake in shares of Deere & Company during the second quarter worth about $37,000. Finally, Centennial Bank AR raised its holdings 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 worth $39,000 after acquiring an additional 84 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

NYSE DE opened at $400.42 on Friday. 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 company has a market cap of $109.55 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The firm’s 50-day simple moving average is $400.85 and its two-hundred day simple moving average is $385.54.

Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings data 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. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the firm earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. Research analysts predict that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DE shares. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley cut their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Citigroup increased their target price on shares of 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. boosted their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $420.69.

View Our Latest Stock Report on Deere & Company

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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