1,682 Deere & Company $DE Shares Bought by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc boosted its position in shares of Deere & Company (NYSE:DE) by 160.3% in the third quarter, Holdings Channel reports. The fund owned 2,731 shares of the industrial products company’s stock after purchasing an additional 1,682 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Deere & Company were worth $1,696,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JGP Wealth Management LLC lifted its position in Deere & Company by 4.3% during the third quarter. JGP Wealth Management LLC now owns 3,385 shares of the industrial products company’s stock valued at $2,274,000 after purchasing an additional 139 shares in the last quarter. Sacks & Associates LLC bought a new position in Deere & Company during the third quarter valued at approximately $705,000. Friday Financial grew its stake in shares of Deere & Company by 2.2% in the 3rd quarter. Friday Financial now owns 3,023 shares of the industrial products company’s stock worth $2,017,000 after buying an additional 64 shares in the last quarter. GK Wealth Management LLC bought a new stake in Deere & Company during the third quarter worth approximately $125,000. Finally, Wedmont Private Capital raised its stake in shares of Deere & Company by 25.5% in the third quarter. Wedmont Private Capital now owns 4,257 shares of the industrial products company’s stock valued at $2,778,000 after acquiring an additional 864 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 1.7%

Shares of NYSE:DE traded up $10.93 during midday trading on Tuesday, reaching $643.54. 424,349 shares of the company’s stock were exchanged, compared to its average volume of 1,361,567. The firm’s 50 day simple moving average is $655.50 and its two-hundred day simple moving average is $610.03. The stock has a market cap of $173.51 billion, a price-to-earnings ratio of 35.72, a P/E/G ratio of 2.27 and a beta of 0.86. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $721.22. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The firm had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the previous year, the firm posted $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 forecast that Deere & Company will post 18.12 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. Barclays lifted their target price on Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. DA Davidson upped their price target on Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Evercore upgraded shares of Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price objective for the company in a research note on Wednesday, September 2nd. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, September 21st. Finally, Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.