Crossmark Global Holdings Inc. Boosts Holdings in Deere & Company (NYSE:DE)

Crossmark Global Holdings Inc. grew its position in shares of Deere & Company (NYSE:DE) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,576 shares of the industrial products company’s stock after purchasing an additional 1,058 shares during the period. Crossmark Global Holdings Inc.’s holdings in Deere & Company were worth $16,516,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC raised its stake in shares of Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after purchasing an additional 19,200 shares during the period. Legal & General Group Plc raised its stake in shares of Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after purchasing an additional 60,255 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after purchasing an additional 279,627 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Deere & Company by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock worth $603,854,000 after buying an additional 114,116 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on DE. Bank of America lifted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Morgan Stanley dropped their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Oppenheimer dropped their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped 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 note on Thursday, August 8th. Finally, HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Performance

Shares of DE traded down $17.10 during midday trading on Friday, hitting $394.06. 1,623,152 shares of the stock traded hands, compared to its average volume of 897,978. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The firm has a market capitalization of $107.81 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.54 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. The business’s 50 day moving average price is $403.02 and its two-hundred day moving average price is $385.69.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the previous year, the company posted $10.20 earnings per share. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.49%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is currently 20.06%.

About Deere & Company

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.