Deere & Company (DE) Holdings Lifted by BB&T Corp

BB&T Corp boosted its holdings in Deere & Company (NYSE:DE) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,695 shares of the industrial products company’s stock after purchasing an additional 895 shares during the quarter. BB&T Corp’s holdings in Deere & Company were worth $7,019,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DE. Highbridge Capital Management LLC raised its holdings in shares of Deere & Company by 7.4% during the 1st quarter. Highbridge Capital Management LLC now owns 6,700 shares of the industrial products company’s stock worth $1,041,000 after acquiring an additional 464 shares in the last quarter. Atlantic Trust Group LLC raised its holdings in shares of Deere & Company by 55.4% during the 1st quarter. Atlantic Trust Group LLC now owns 44,516 shares of the industrial products company’s stock worth $6,915,000 after acquiring an additional 15,867 shares in the last quarter. Rikoon Group LLC purchased a new stake in shares of Deere & Company during the 1st quarter worth approximately $200,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of Deere & Company during the 1st quarter worth approximately $100,000. Finally, Park National Corp OH raised its holdings in shares of Deere & Company by 30.9% during the 2nd quarter. Park National Corp OH now owns 4,147 shares of the industrial products company’s stock worth $579,000 after acquiring an additional 978 shares in the last quarter. Institutional investors and hedge funds own 66.60% of the company’s stock.

NYSE:DE opened at $145.91 on Friday. Deere & Company has a fifty-two week low of $128.13 and a fifty-two week high of $175.26. The firm has a market cap of $48.78 billion, a P/E ratio of 22.12, a P/E/G ratio of 2.81 and a beta of 0.87. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.66 and a current ratio of 1.91.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, August 17th. The industrial products company reported $2.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.75 by ($0.16). Deere & Company had a net margin of 5.82% and a return on equity of 28.51%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.18 billion. During the same quarter in the previous year, the company posted $1.97 EPS. The business’s quarterly revenue was up 35.9% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 9.51 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, September 28th will be issued a dividend of $0.69 per share. The ex-dividend date is Thursday, September 27th. This represents a $2.76 annualized dividend and a yield of 1.89%. Deere & Company’s payout ratio is presently 41.32%.

DE has been the topic of several recent research reports. Credit Suisse Group decreased their price objective on Deere & Company from $231.00 to $221.00 and set an “outperform” rating on the stock in a report on Monday, August 20th. Goldman Sachs Group cut Deere & Company from a “conviction-buy” rating to a “buy” rating in a report on Monday, July 16th. JPMorgan Chase & Co. set a $145.00 price objective on Deere & Company and gave the stock a “hold” rating in a report on Monday, August 13th. Argus decreased their price objective on Deere & Company to $160.00 and set a “buy” rating on the stock in a report on Monday, August 20th. Finally, OTR Global lowered Deere & Company to a “$139.21” rating in a report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $177.75.

Deere & Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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