Deere & Company (NYSE:DE) Shares Acquired by Northcape Wealth Management LLC

Northcape Wealth Management LLC boosted its position in shares of Deere & Company (NYSE:DE) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,560 shares of the industrial products company’s stock after purchasing an additional 97 shares during the period. Northcape Wealth Management LLC’s holdings in Deere & Company were worth $3,155,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Fairscale Capital LLC purchased a new position in Deere & Company in the second quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the 3rd quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new stake in Deere & Company during the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR increased its holdings in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DE. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Truist Financial upped their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their price objective on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Performance

DE stock opened at $398.95 on Friday. The stock’s fifty day moving average is $404.03 and its two-hundred day moving average is $385.69. The stock has a market capitalization of $109.15 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.48 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47.

Deere & Company (NYSE:DE) last posted its 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 net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the previous year, the business posted $10.20 EPS. Deere & Company’s revenue was down 20.3% on a year-over-year basis. On average, research analysts predict that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. 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.