Deere & Company $DE Stock Purchased by Traynor Capital Management Inc.

Traynor Capital Management Inc. raised its position in Deere & Company (NYSE:DE – Free Report) by 4.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 18,742 shares of the industrial products company’s stock after purchasing an additional 759 shares during the period. Traynor Capital Management Inc.’s holdings in Deere & Company were worth $12,586,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Nippon Life Global Investors Americas Inc. boosted its stake in Deere & Company by 2,911.3% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 87,630 shares of the industrial products company’s stock worth $58,976,000 after buying an additional 84,720 shares in the last quarter. Columbia Bank raised its stake in shares of Deere & Company by 1.0% in the 3rd quarter. Columbia Bank now owns 5,216 shares of the industrial products company’s stock valued at $3,503,000 after buying an additional 50 shares in the last quarter. Hoey Investments Inc. raised its stake in shares of Deere & Company by 347.3% in the 3rd quarter. Hoey Investments Inc. now owns 331 shares of the industrial products company’s stock valued at $222,000 after buying an additional 257 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Deere & Company during the 3rd quarter worth about $60,051,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Deere & Company during the 3rd quarter worth about $121,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Nomura raised shares of Deere & Company to a “buy” rating in a research note on Monday, August 31st. Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research note on Friday, August 14th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $585.00 to $625.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $640.00 to $800.00 in a report on Monday, August 31st. Finally, Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $688.10.

Get Our Latest Stock Report on DE

Deere & Company Stock Performance

NYSE:DE opened at $675.03 on Monday. The stock has a market capitalization of $182.00 billion, a P/E ratio of 37.50, a price-to-earnings-growth ratio of 2.47 and a beta of 0.89. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. Deere & Company has a 1 year low of $454.50 and a 1 year high of $721.22. The firm has a 50 day moving average of $663.79 and a 200-day moving average of $604.16.

Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same period in the prior year, the company earned $4.75 EPS. Deere & Company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s payout ratio is currently 36.00%.

Deere & Company Company Profile

(Free Report)

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.

Further Reading

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

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