Peregrine Asset Advisers Inc. Makes New $239,000 Investment in Deere & Company (NYSE:DE)

Peregrine Asset Advisers Inc. purchased a new stake in Deere & Company (NYSE:DE) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 573 shares of the industrial products company’s stock, valued at approximately $239,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the 2nd quarter valued at $26,000. Pineridge Advisors LLC increased its holdings 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 bought a new position in shares of Deere & Company during the third quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company in the 2nd quarter worth about $37,000. Finally, Centennial Bank AR boosted 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 acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $394.06 on Monday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $107.81 billion, a P/E ratio of 13.44, a PEG ratio of 1.54 and a beta of 0.93. The business has a 50 day simple moving average of $403.02 and a 200-day simple moving average of $385.55.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.20 EPS. As a group, equities analysts anticipate that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders 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 1.49%. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America upped 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. Citigroup lifted their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Oppenheimer lowered their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $420.69.

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.