Northcape Wealth Management LLC Cuts Stake in Deere & Company (NYSE:DE)

Northcape Wealth Management LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,479 shares of the industrial products company’s stock after selling 212 shares during the period. Northcape Wealth Management LLC’s holdings in Deere & Company were worth $2,591,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after buying an additional 838,813 shares during the period. FMR LLC grew its position 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 acquiring an additional 269,571 shares in the last quarter. Quadrature Capital Ltd grew its position in Deere & Company by 94.0% in the third quarter. Quadrature Capital Ltd now owns 301,396 shares of the industrial products company’s stock valued at $113,759,000 after acquiring an additional 146,069 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $43,384,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Deere & Company in the third quarter valued at approximately $38,876,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target 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. JPMorgan Chase & Co. raised their target price on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Melius cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Melius Research restated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Finally, Truist Financial started coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Stock Down 2.4 %

Shares of DE traded down $9.55 during trading hours on Tuesday, reaching $391.41. 973,933 shares of the stock traded hands, compared to its average volume of 1,459,829. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The stock has a fifty day simple moving average of $388.66 and a 200 day simple moving average of $383.65. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company has a market cap of $108.95 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.55 earnings per share. On average, equities analysts forecast that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

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.