Court Place Advisors LLC Acquires 300 Shares of Deere & Company (NYSE:DE)

Court Place Advisors LLC lifted its holdings in Deere & Company (NYSE:DE) by 8.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,003 shares of the industrial products company’s stock after purchasing an additional 300 shares during the period. Court Place Advisors LLC’s holdings in Deere & Company were worth $1,601,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in DE. Morgan Stanley lifted its stake in Deere & Company by 1.3% in the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares during the last quarter. FMR LLC raised its stake in Deere & Company by 6.6% in the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after buying an additional 269,571 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of Deere & Company by 104,373.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after buying an additional 3,216,801 shares during the last quarter. Norges Bank bought a new position in shares of Deere & Company during the 4th quarter worth approximately $1,326,177,000. Finally, Northern Trust Corp increased its holdings in shares of Deere & Company by 2.5% during the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock worth $1,155,430,000 after acquiring an additional 73,601 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Stifel Nicolaus decreased their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Truist Financial assumed coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Morgan Stanley started coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Price Performance

Shares of NYSE DE traded up $4.00 during mid-day trading on Wednesday, hitting $397.01. 1,442,233 shares of the stock traded hands, compared to its average volume of 1,500,381. The company has a market cap of $110.51 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The firm has a 50 day simple moving average of $384.95 and a two-hundred day simple moving average of $382.56.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the company earned $6.55 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

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.