Valley Brook Capital Group Inc. Boosts Holdings in Deere & Company (NYSE:DE)

Valley Brook Capital Group Inc. raised its stake in shares of Deere & Company (NYSE:DE) by 3.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,124 shares of the industrial products company’s stock after buying an additional 176 shares during the period. Deere & Company comprises about 1.5% of Valley Brook Capital Group Inc.’s portfolio, making the stock its 14th largest holding. Valley Brook Capital Group Inc.’s holdings in Deere & Company were worth $2,138,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Washington Trust Bank increased its holdings in shares of Deere & Company by 0.7% during the 3rd quarter. Washington Trust Bank now owns 30,131 shares of the industrial products company’s stock valued at $12,575,000 after purchasing an additional 200 shares in the last quarter. Deseret Mutual Benefit Administrators grew its position in Deere & Company by 15.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 316 shares of the industrial products company’s stock valued at $132,000 after buying an additional 42 shares during the period. WoodTrust Financial Corp increased its holdings in Deere & Company by 9.4% in the third quarter. WoodTrust Financial Corp now owns 16,229 shares of the industrial products company’s stock valued at $6,773,000 after buying an additional 1,394 shares in the last quarter. Financial Enhancement Group LLC purchased a new position in Deere & Company in the third quarter valued at $6,761,000. Finally, Forte Capital LLC ADV boosted its stake in shares of Deere & Company by 6.3% during the 3rd quarter. Forte Capital LLC ADV now owns 1,646 shares of the industrial products company’s stock worth $687,000 after acquiring an additional 98 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Evercore ISI upped their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Morgan Stanley dropped their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Finally, Citigroup increased their price objective 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. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Up 1.0 %

Shares of NYSE:DE traded up $4.18 during trading on Thursday, hitting $409.89. The company’s stock had a trading volume of 68,972 shares, compared to its average volume of 1,430,609. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The business has a 50 day moving average price of $402.27 and a two-hundred day moving average price of $385.56. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company has a market capitalization of $112.15 billion, a PE ratio of 13.89, a P/E/G ratio of 1.52 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter 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. As a group, research analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

Deere & 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.